The UK is now Europe’s third largest construction market surpassing Italy in 2014 as output rose to €167.9bn, with only France (€199.5bn) and Germany (€285.4bn) having larger outputs than the UK. Spain and Italy are continuing to see a decrease in the output due to the continuing financial crisis and the reliance on the housing markets in those countries.
The UK construction market is forecast to see growth of 5.1% in 2015 followed by 3.5% in 2016 and a further 2.4% growth in 2017, whilst the French and German markets are set to stagnate over the same time period, with the current trends being reversed with growth returning to the Italian and Spanish markets in 2017.
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