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NFB Conference 2013: Construction Forecasts DR. NOBLE FRANCIS Economics Director.

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Presentation on theme: "NFB Conference 2013: Construction Forecasts DR. NOBLE FRANCIS Economics Director."— Presentation transcript:

1 NFB Conference 2013: Construction Forecasts DR. NOBLE FRANCIS Economics Director

2 UK ECONOMY

3 Economic Recovery UK GDP is recovering but what about real wages? Interest rates to stay low Inflation above target Bank of England clearly focused on growth

4 OPPORTUNITIES GOING FORWARD IN CONSTRUCTION

5 £110 billion of work Opportunities going forward, primarily in London & South East Near-term growth due to private housing & infrastructure Medium-term recovery also from growth in commercial Total Construction

6 Q3 private housing output 12% higher than a year ago Govt policy boosts: Funding for Lending FirstBuy Help to Buy What happens when the policies finish? Private Housing

7 Real wages and consumer spending expected to boost sector Green Deal and ECO are not offsetting the end of CERT & holding back growth Private Housing RM&I

8 On the negative side, government spending cuts On the positive side, Green Deal could make more of an impact in the public sector Public Housing RM&I

9 Bricks in September: Production 14% higher than a year ago Stocks 34% lower than a year ago Building contractors in Q3: 34% reported difficulty recruiting bricklayers 32% reported difficulty recruiting plasterers Shortages?

10 For Further Information Contact:


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