Market Update - November 2021
G&T's Market Update for November 2021 provides an overview of the UK construction market. Against a backdrop of ongoing supply chain issues and rising costs, our latest report highlights changes to key macro-economic indicators over the reporting period, as well as construction-specific metrics such as the IHS Market/CIPS UK Purchasing Managers' Index (PMI) construction output, new orders and key material costs. We also outline our latest trade package and tender price inflation forecasts based on our quarterly surveys and regular discussions with the supply chain.
In this update we:
- Review some of the factors putting upward pressure on rising input costs as demand recovers and workloads rise
- Compare key input cost inflation metrics with tender price indices to reveal insights about market conditions
- Analyse various ONS datasets in order to determine the impact of the pandemic on construction labour availability and costs
- Highlight some of the key takeaways and feedback from our recent Main Contractor survey
Please note - whilst our Market Update uses the most recently published data at the time of writing, release schedules between datasets differ. This inevitably means that not all datasets will cover identical periods.