Construction and Housing Review by Lloyds TSB

Overall construction activity fell sharply by 10.5% in 2009, according to latest official estimates, weighed by weak private sector housing and industrial & commercial property activity.

Overall construction activity fell sharply by 10.5% in 2009, according to latest official estimates, weighed by weak private sector housing and industrial & commercial property activity. It is forecast to fall a further 1.6% in 2010, before returning to growth in the following year.

The bright spots in the sector in the past year were infrastructure and public non-housing (e.g. schools), which grew by an estimated 10% and 25%, respectively. Public housing, however, fell in 2009 as a whole, but activity appears to have picked up in the latter half of the year.

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