Britain’s construction industry boom is over, according to industry analyst Experian Business Strategies.
In its latest industry forecast it said that after achieving 8% growth in 2002 – four times that of the whole UK economy last year – growth in construction output is likely to moderate to 5% this year and 2% in 2004.
The drop will be largely due to falling levels of activity in industrial and office construction and in private housebuilding. Construction in transport, education, health and social housing will continue to rise although the high levels of growth seen in 2002 are unlikely to be maintained.
