Construction sector will grow faster than expected over next three years
The construction sector will grow faster than expected over the next three years, according to upgraded economic forecasts from Experian.
In its Spring update, Experian said construction output will grow 4.5% this year, 4.7% in 2015 and 3% in 2016.
All the projections were revised up from Experian’s last set of forecasts in the Winter, when it projected 4.2% growth this year, 4.4% in 2015 and 2.7% in 2016.
Experian said it upgraded its forecasts “on the back of better performance in the housing sectors and an end to the decline in public non-residential construction a year earlier than forecast in the winter.”