The UK’s construction value added showed a moderate growth from 2013 to 2019, with a peak increase in 2015 (4.67%), followed by fluctuations and a slight decline in 2016 (-1.16%). The sector suffered a notable contraction in 2020 (-9.67%) due to the pandemic, but recovered partially in 2021 (6.56%). From 2022 onwards, growth stabilized at a low rate of around 0.016% annually, with the future forecast indicating stagnation from 2024 to 2028, maintaining the value at 6.16 with a forecasted CAGR of 0%.
Future trends to watch for:
- Green and sustainable construction practices.
- Technological advancements and digitalization in construction processes.
- Potential impacts of economic policy changes post-Brexit.
- Shifts in demand due to population changes and urbanization.
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