Commercial and housing sectors won’t recover until 2023, new report says

By Joey Gardiner and Tom Lowe2021-01-05T06:00:00

Source: Shutterstock

Latest forecast from Experian predicts output will remain below pre-pandemic levels this year and next

Construction activity in the commercial and housing sectors is expected to remain below their pre-pandemic levels until 2023, according to the latest predictions from information specialist Experian.

The firm’s most recent forecast – finalised in the wake of both the Brexit deal and rapidly rising infection levels caused by the new variant of covid-19 – said private commercial output fell by 21% to just £23bn in 2020 and will lag behind pre-pandemic levels throughout this year and next.

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