Backed by extensive infrastructure investment, the UK construction industry has made an impressive recovery from the pandemic. But all is not plain sailing as labour and material shortages continue to delay projects and raise costs. Moreover, while UK cement producers are enjoying this renewed demand, the pressure is on to meet and even exceed the industry’s net zero carbon targets.
Following growth of 1.4 per cent in 2019, the UK economy contracted by 9.9 per cent YoY in 2020, according to the IMF, due to the pandemic. For 2021 an expansion of 5.3 per cent was forecast, but this has now been revised up to seven per cent as the economy outperforms previous expectations. A further advance of 4.8 per cent is forecast for 2022. The driving force behind the UK’s recovery is two-fold. A successful vaccination programme has enabled the lifting of most restrictive measures, while a once-in-a-generation investment in infrastructure has been implemented, designed to generate growth across the economy.
