Construction heading for shallow recession in 2023

Crystal ball gazers are forecasting a 1.7% dip in construction activity this year before the industry returns to modest growth in 2024.
The strength of the wider economic headwinds has seen Experian’s construction forecasting unit downgrade its latest workload predictions.
But economists are still predicting a relatively shallow recession with inflation, higher borrowing costs and labour rate rises expected to fade next year allowing construction to ease back into modest 1.1% growth in 202