Tender Price Indicators
Q3 2022
Elevated inflation across the globe has impacted every sector and UK construction is no exception. The post-pandemic rebound that was building prior to the conflict has come to a halt following broad-based inflationary pressures and the risk of stagflation or recession.
By Michael Urie
Q2 2022
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
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Q1 2022
Q1 2022
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
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Q4 2021
Q4 2021
From toilet rolls to timber, supply chain issues have evolved and expanded over the last year-and-a-half.
By Michael Urie
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Q3 2021
Q3 2021
‘Transitory inflation’. This is the term currently being bandied about by economists. But transitory or not, inflation is certainly here.
By Michael Urie
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Q2 2021
Q2 2021
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
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Q1 2021
Q1 2021
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
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Q4 2020
Q4 2020
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
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Q3 2020
Q3 2020
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
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Q2 2020
Q2 2020
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
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Q4 2019
Q4 2019
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
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Q3 2019
Q3 2019
After a relatively strong start to the year, UK construction output has been on a general downward trajectory since February.
By Michael Urie
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Q1 2019
Q1 2019
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
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Q4 2018
Q4 2018
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
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Q3 2018
Q3 2018
Some tender price inflation and forecast changes but our forecast for UK average tender price inflation remains unchanged.
By Michael Urie
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Q2 2018
Q2 2018
As UK economic growth slows, the construction industry remains resilient albeit at reduced levels of growth.
By Michael Urie
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Q1 2018
Q1 2018
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
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Q4 2017
Q4 2017
Forecast for construction demand continues to weaken as investment in buildings and infrastructure is paused or delayed.
By Michael Urie
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Q2 2017
Q2 2017
Whilst timescales for Brexit become clear, details of the new market for 2019 and its impact on construction remain uncertain.
By Michael Urie
