Menu
24/06/2003
Slowdown expected for construction sector
The growth rate of the UK construction industry is set to halve in 2003, according to the latest forecast from analysts Experian Business Strategies.
Growth of 8% is forecast for the current year, which will slow to 4% in 2004 and then down to 3% for 2005.
Jane Croot, Experian Business Strategies' Associate Director, explained: "Over the next two or three years, the growth in Government spending is likely to be weaker, a slowing housing market will cause housebuilders to be more cautious, and a subdued office market will lead to a fall-out in construction in the southern regions."
She continued: "Between now and 2005, office construction in the south is likely to move into recession. In most northern and central regions, which are not so dependent on office construction, and where office markets are still relatively healthy, commercial construction is not expected to fall. But all regions are likely to see a moderation in growth next year and 2005."
(CL)
Growth of 8% is forecast for the current year, which will slow to 4% in 2004 and then down to 3% for 2005.
Jane Croot, Experian Business Strategies' Associate Director, explained: "Over the next two or three years, the growth in Government spending is likely to be weaker, a slowing housing market will cause housebuilders to be more cautious, and a subdued office market will lead to a fall-out in construction in the southern regions."
She continued: "Between now and 2005, office construction in the south is likely to move into recession. In most northern and central regions, which are not so dependent on office construction, and where office markets are still relatively healthy, commercial construction is not expected to fall. But all regions are likely to see a moderation in growth next year and 2005."
(CL)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
11 April 2024
NI Firms To Attend National Construction Summit In Dublin
Hundreds of construction companies and experts are set to travel to Dublin next week for the annual National Construction Summit at the Sport Ireland Campus, Blanchardstown.
NI Firms To Attend National Construction Summit In Dublin
Hundreds of construction companies and experts are set to travel to Dublin next week for the annual National Construction Summit at the Sport Ireland Campus, Blanchardstown.
14 April 2011
Sub Contractors Urged To 'Think Big'
Belfast City Council has launched a new programme targeting building sub-contractors who have shied away from pursuing opportunities with major contractors on large-scale construction schemes and other regeneration projects.
Sub Contractors Urged To 'Think Big'
Belfast City Council has launched a new programme targeting building sub-contractors who have shied away from pursuing opportunities with major contractors on large-scale construction schemes and other regeneration projects.
02 July 2010
Construction Growth Continues But Activity Has Slowed
June's Markit/CIPS Purchasing Managers’ Index for construction showed continued growth, but at a slower pace. New orders were still being recorded, though unemployment still stayed at the same level as concerns over public spending cuts and VAT increases dampened enthusiasm. June's reading was reported as 58.4, down slightly from 58.5 in May.
Construction Growth Continues But Activity Has Slowed
June's Markit/CIPS Purchasing Managers’ Index for construction showed continued growth, but at a slower pace. New orders were still being recorded, though unemployment still stayed at the same level as concerns over public spending cuts and VAT increases dampened enthusiasm. June's reading was reported as 58.4, down slightly from 58.5 in May.
28 February 2002
UK house prices set to beat growth expectations
UK mortgage lender Nationwide has said that house prices may beat growth expectations for the year ahead. Their expectations were made after their monthly property market review said that average house prices grew by 1.6 per cent in February compared to the previous month, and by 14 per cent on the year.
UK house prices set to beat growth expectations
UK mortgage lender Nationwide has said that house prices may beat growth expectations for the year ahead. Their expectations were made after their monthly property market review said that average house prices grew by 1.6 per cent in February compared to the previous month, and by 14 per cent on the year.
07 June 2019
Belfast Hosts International Construction Conference
Over 400 delegates gathered at the Crowne Plaza Belfast today, Friday 07 June, for Northern Ireland's largest digital construction conference.
Belfast Hosts International Construction Conference
Over 400 delegates gathered at the Crowne Plaza Belfast today, Friday 07 June, for Northern Ireland's largest digital construction conference.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
