LONDON, Dec. 19, 2016 /PRNewswire/ -- Includes 3 FREE quarterly updates
Growth in the UK construction sector slow significantly in 2017 on the back of delayed investment decisions and a slowing of the wider economy following the vote to leave the EU. Our longerterm outlook remains intact, given that the UK's significant infrastructure project pipeline is benefitting from long-delayed decisions being made on mega-projects.
Latest Updates And Structural Trends
- Following the Brexit vote, we see growth in the construction sector slowing dramatically in 2017 to 0.5% y-o-y. In line with our post-Brexit upside risk scenario for the UK infrastructure sector, we have increased average annual construction industry real growth forecast for 2018-2025 to 2.8%.
- Our revised forecasts show robust growth for the UK's airport infrastructure sector throughout our 10 year period. Upgrades and refurbishments underpin annual average growth of 8% up to 2019, when we expect construction on an expanded Heathrow to begin providing a significant boost to growth to the end of our forecast period in 2025.
- We have upgraded our forecasts for the power plant and transmission grids infrastructure sector to include the Hinkley Point C project, which now sees the sector accelerating beyond 2020 rather than slowing. Outside of nuclear power, the biggest impact of the Brexit vote will be by reaffirming investors' decision to stand on the sidelines while traditional power plants are unattractive or unprofitable to invest in.
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