2023 industry recession to be deeper than first forecast

Construction output is now expected to fall by 6.4% this year after economists at the Construction Products Association sharply downgraded forecasts for the second time.
Falling private new housing combined with recent government delays to major infrastructure projects has prompted the spring forecast downgrade from a previously forecast 4.7% fall in output.
Private housing new build, and private housing rm&i account for around 40% of total construction output and are forecast to be the sect