UK Election Brief - More Uncertainty

General election outcome heaps more uncertainty on the outlook for the UK.

There is a great deal of uncertainty in the UK construction industry following the June 8th General Election. Timetric’s Construction Intelligence Center (CIC) maintains its current modest outlook for growth in the industry in 2017. However, the risks to this outlook remain firmly to the downside, as the industry faces a period of uncertainty given the weakened position of the Conservative Party government to implement its domestic agenda, the beginning of the UK’s withdrawal from the European Union (EU), and rising costs due to ongoing currency weakness. 

Moreover, the UK government’s policy direction for infrastructure and other construction segments, particularly housing, could change or become less focused, and its ability to implement such a policy agenda will almost certainly be weakened