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UK construction activity expected to decline in 2023
Posted on July 3, 2023 |
In 2023, the value of new project starts is likely to drop by 18% due to the collapse of private housing work amid rising mortgage rates and shrinking household budgets.
However, in 2024, a 12% recovery is expected, and a further 3% growth in 2023, but it will be inadequate to fill up the lost ground during the substandard year of 2023.