Rapid improvement in UK construction

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ITTO
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Construction industry trends in 2014 have varied widely between EU countries. The UK stands out this year as a country where construction is recovering very rapidly. The UK Construction Products Association (CPA) Summer Forecasts suggest that total construction output will grow by 4.7% in 2014 and a further 4.8% in 2015.

Furthermore, this expansion should continue with total construction output forecast to rise 22.2% over the next five years. In the 12 months of end of June this year, UK housing starts were nearly 138000, 22% up on the previous year and the highest level of house building since 2007. Private housing starts are now expected to grow 18% during 2014 and 10% in 2015.

Commercial construction in the UK has also seen a significant resurgence in 2014. This is mainly due to big ticket projects in London, although there are now also signs of improving activity in other parts of the country.

The CPA expects commercial offices output in the UK to grow 10% in 2014 and 8% in 2015. The CPA's forecasts are slightly more optimistic than those of the 2nd quarter Archi-vision survey of 1600 architects across Europe. For the UK, Arch-Vision predict 4% growth of the UK construction market in 2014 with this rate of growth continuing in 2015 (+4%) and slowing to +3% in 2016.

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