Construction Forecast for Growth Despite Continuing Uncertainty
Posted by Glenigan on 14th July 2022 -
Construction growth has faltered after a post-pandemic boost at the start of last year but there will be a return to stronger growth in the short-term according to the latest industry construction forecast from Glenigan.
A rise in construction project starts produced by the lifting of Covid-19 restrictions slowed at the end of last year. Economic shocks from Russia’s invasion of Ukraine and China’s Zero Covid strategy also had an impact and Glenigan expects the underlying value of construction starts (projects with a construction value of less than £100 million) to be around £67.8 billion.
This figure is 23% higher than in 2020, when the pandemic took its biggest toll on the construction industry, but a drop of 2% on last year.
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