NEWS
Infrastructure investment drives construction growth
A
ccording to the latest forecast by the Construction Products Association (CPA), construction
output is expected to grow by 0.8% in 2017, 0.7% in 2018 and 2.2% in 2019. Although the forecast shows that the industry will maintain its post- Referendum momentum, it also hides a considerable variation in fortunes across the key construction sectors.
Growth to 2019 is expected to be primarily driven by a 28.0% increase in infrastructure activity and a 6.1% increase in private house building, which would offset expected falls in commercial and industrial construction. CPA economics director, Noble Francis, said: “Near-term prospects for construction appear bright with industry growth boosted by several new billion pound infrastructure projects across the country. A rise in infrastructure output is expected to ensure positive growth for the construction industry overall if the government can ensure it delivers on its announcements.”
In addition, house building is
expected to remain a key source of output growth, with private house building starts rising at 2.0% per year between 2017 and 2019.
Noble Francis said: “Construction
industry prospects should also be boosted by a positive outlook from major house builders, who appear willing to increase supply as they take advantage of rising house prices in an under-supplied market. The exception to this is the high-profile niche of prime residential in central London, where there is already an oversupply of properties and sharply falling prices...” He continued: “Substantial risks to growth remain however as the fall in the value of Sterling is leading to increased import and raw materials costs. On the demand side, whilst the uncertainty post-Referendum has not impacted activity on site as yet, it appears to be affecting areas that require high upfront investment for a long-term rate of return such as commercial offices and industrial factories. Both have seen new contract awards fall and this is likely to feed through into falls in sector activity from the second half of this 2017. “Despite these concerns,
infrastructure and private housing are anticipated to ensure that the construction industry grows between 2017 and 2019, providing an extra £5.3 billion of economic activity for the construction industry and wider UK economy.”
ThermOzone re-accredited as Carbon T rust supplier
T
hermOzone has achieved successful re-accreditation as a Carbon Trust Accredited
Supplier. This scheme has
ThermoOzone’s credentials and achievements with various energy reducing projects recognised by higher authority, including close scrutiny and reference follow up upon three completed projects each year. Accreditation provides access to low cost / no cost funding schemes such
nised by ay
as the Green Business Fund, and once accredited the company can simply sign off the scheme application from its achieved credentials.
The firm says that the accreditation is recognition that it is doing more than its bit to achieve consistent environmental results for its clients, not just for energy reduction, but also equipment recycling, and its activities to reduce harmful refrigerant use safely.
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