The timber trade can look forward to UK construction growth outpacing the rest of the economy, according to a new survey.
The forecast from Construction Forecasting and Research (CFR) predicts growth in total construction will be 2.4% this year and will continue rising until 2003 when it will reach an annual growth rate of 4.1%.
Growth will be broadly based, with output fuelled in particular by infrastructure and public service spending.
CFR managing director Alan Armitage said: ‘The prospects for the industry are buoyant. Sustained growth in construction over the next three years will see the construction sector outstripping gross domestic product for the first time since the end of the 1980s.’
