The Russia-Ukraine conflict and the ensuing roll-out of sanctions and retaliatory measures have ushered in a new era of economic difficulties and inflation. The swings in commodity prices have been dramatic and the record rises in fuel and energy prices alarming. War brings significant volatility, and this is set to be a feature of the economic outlook for the foreseeable future.
By Michael Urie
Inflation is here, but for how long? Analysis tells us from spring, inflation will lower but leave us with much higher price levels.
By Michael Urie
From toilet rolls to timber, supply chain issues have evolved and expanded over the last year-and-a-half.
By Michael Urie
‘Transitory inflation’. This is the term currently being bandied about by economists. But transitory or not, inflation is certainly here.
By Michael Urie
COVID-19 has made it difficult to quantify the impact of Brexit on trade but a successful vaccination roll out fosters a faster economic revival.
By Michael Urie
A third national COVID-19 lockdown and a historic trade deal with the EU. Will these impact the construction industry for the good or the bad?
By Michael Urie
With the initial shock of COVID-19 now over, there have been some promising signs that an economic recovery is on the horizon.
By Michael Urie
Given the uncertainty at the time, our previous TPI forecast used a scenario-based approach, outlining how different market conditions might weigh in on tendering conditions. Whilst there are still many unknowns with regards to the type of recovery that will materialise, it has become clear that substantial deflationary pressures will affect input costs and tender pricing into 2021.
By Michael Urie
Hopes of entering into a period of relative calm and greater market certainty have firmly been put on ice as we find ourselves facing the prospect of a ‘new normal’ in the wake of the coronavirus (COVID-19) pandemic.
By Michael Urie
As we enter the second phase of Brexit, a few unknowns still hang in the balance. Will the UK secure the ambitious free trade agreement? And will the upcoming budget spark an 'infrastructure revolution'?
By Michael Urie
After a relatively strong start to the year, UK construction output has been on a general downward trajectory since February.
By Michael Urie
The current economic and political climate is proving to be a breeding-ground for indecisiveness and this will inevitably have an impact on new business confidence and order book volumes.
By Michael Urie
Construction output surprised many towards the end of 2018. In the year to November 2018 construction output (All Work) in the UK grew by 3.4% despite unparalleled levels of political uncertainty.
By Michael Urie
Some tender price inflation and forecast changes but our forecast for UK average tender price inflation remains unchanged.
By Michael Urie
As UK economic growth slows, the construction industry remains resilient albeit at reduced levels of growth.
By Michael Urie
Prospects for growth remain limited with the post-Brexit horizon still developing, making medium and long-term forecasting more difficult to formulate.
By Michael Urie
Forecast for construction demand continues to weaken as investment in buildings and infrastructure is paused or delayed.
By Michael Urie
Whilst timescales for Brexit become clear, details of the new market for 2019 and its impact on construction remain uncertain.
By Michael Urie
The pause in demand for new orders is starting to bite as uncertainty over UK economic growth remains.
By Michael Urie