The UK's construction sector is forecast to have a strong year, but experts are warning of risks to the rosy outlook.
The Construction Products Association (CPA) said today it expects construction output to climb 3.6 per cent this year and 4.1 per cent next year. Private house building is projected to rise five per cent in both 2016 and 2017 while infrastructure work is set to increase by over 50 per cent over the next three years. One cloud on the horizon is a possible referendum on EU membership this year.
“While we make no assumption about the result, we note the uncertainty around the issue is already affecting investment decisions,” said CPA economics director Noble Francis.
“The chief concern remains weakness in China and the effect it can have on other countries.” Noble also said there was an “urgent challenge around skills shortages.”