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UK economy growth (%)
Ìý2001 actual2002 actual2003 actual2004 estimated2005 forecast2006 forecast2007 forecast
GDP2.31.82.33.332.52.5
Fixed investment2.62.72.264.544
Consumer expenditure3.13.22.33.32.322.3
Household disposable incomes4.71.42.23.52.51.82
Consumer price index inflation1.81.31.41.3222
Bank base rates June5.2543.754.5554.75
Bank base rates December443.754.7554.754.5
Source: Construction Products Association
Housing market forecasts
Ìý20032004200520062007
House price growth, Q4, year on year (% change)1515422
Gross advances (£bn)277293271241235
Net advances (£bn)101103948581
Property transactions (millions)1.41.641.231.201.21
First-time buyers (% of loans)2928313434
Unemployment (000s)931848835860860
Source: Council of Mortgage Lenders
Construction output
Ìý2004 estimated2005 forecast2006 forecast2007 forecast
Housing
Public (£m)2,0802,3902,6302,840
% change2715108
Private (£m)10,71511,36011,47511,475
% change12610
Total (£m)12,79513,75014,10514,315
% change14.27.52.61.5
Other new work
Public non-housing (£m)8,6259,4559,98010,345
% change18.69.65.53.6
Infrastructure (£m)5,9055,6255,7356,060
% change–12.3–4.725.7
Industrial (£m)3,3103,3753,3103,310
% change82–20
Commercial (£m)12,57512,85013,22013,770
% change42.22.94.2
Total other new work (£m)30,41531,30532,24533,485
% change4.32.933.8
Total new work (£m)43,21045,05546,35047,800
% change74.32.93.1
Repair, maintenance and improvement
Private housing RM&I12,38512,01512,01512.375
% change1–303
Public housing RM&I6,8407,1857,4007,620
% change8533
Public other RM&I6,5756,2456,4306,625
% change–5–533
Private other RM&I11,36510,45510,66511,200
% change–5–825
Total RM&I37,16535,90036,51037,820
% change–0.8–3.41.73.6
Total all work80,37580,95582,86085,620
Total % change3.20.82.43.4
Source: Construction Products Association