Limited GDP growth, economic and interest rate uncertainties, plus a general softening of commercial activity will combine to make 2025 a year of slow growth for the UK construction industry. That’s the conclusion of an analysis from S&P Global Market Intelligence as reported in a recent issue of Construction Briefing magazine.
The industry recovery began in the third quarter of 2024 with a growth of 0.8 percent after three consecutive quarters of contraction. All things considered, the article concluded that 2025 should be a year of positive, albeit limited, growth of about 2.7 percent in contrast to a decline of 2.8 percent in 2024.
Based on mortgage approval, property transaction and new home registration data, residential building is expected to rebound moderately reversing a two-year decline. This should help balance weakness in non-residential activity including both commercial and infrastructure projects.
Executives at major North American lift manufacturers anticipate product demand to soften moderately in 2025.
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