UK Commercial Construction Industry, UK Major Construction Projects - Ken Research
by Ashish Kumar Market ResearcherThe British economy turned in a steady performance in 2016, growing at
the second fastest rate among the G7 economies. Growth in the sixth months
following the EU referendum was significantly stronger than some had feared
pre-vote, when the Treasury and others predicted a Brexit vote would result in
recession. Growth in 2016 was stronger than the OBR and other forecasters were
expecting at the start of the year, with little sign of any immediate
post-Brexit slowdown. But the OBR predicts growth will slow in 2017 and 2018 as
businesses delay investment plans and household incomes start to be squeezed by
rising inflation. The vast majority of economists expect the decision to leave
the EU to hit growth in the medium to longer term
The industry has suffered a major dent in its history and will suffer a
massive blow in coming times due to the referendum from the EU more commonly
called Brexit. The UK’s construction industry has slipped back into recession
for the first time in four years, according to Ken research report on “Institutional Construction in the UK to 2020: Market
Forecast” the sector was struggling even
before the vote to leave the EU. Experts say the drop in business and consumer
confidence since the referendum will further dent construction activity in the
months ahead. The Office for National Statistics said output dipped 0.7% in the
second quarter of 2016, following a drop of 0.3% in the previous three months.
Construction – which accounts for 6 per cent of British economic output – is
capricious on a monthly basis and accounts for a disproportionate amount of
revisions in periodical economic growth data. Therefore the institutional
construction such as schools and hospitals are not in rise of demands as the UK
economy will have to gain its pace back and show resilience in the market after
Brexit. The reconstruction and demolition work seems to show a flat growth and is
on the predicted to rise after the economy has gained back its pace and
therefore the growth is predicted to increase after 2021.
Report titled “Institutional Construction in the UK to 2020: Market
Forecast” predicts, the institutional construction in UK seems to have a feeble
growth in coming years due to the referendum from EU (Brexit). Therefore due to
the stabilization of the construction sector the UK institutional construction
is on a recovery phase which indicates a large fall in the demand of hospitals
and schools etc.
Key topics covered in report
Global Institutional Construction Industry
The UK Institutional Construction Industry Research
The UK Construction Market Revenue
Construction Industry Growth in UK
UK Major Construction Projects
UK Commercial Construction Industry Analysis
UK Construction Industry Forecast
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