Data

Building costs are set to increase by 15 per cent over the next five years, according to a new forecast by the Building Cost Information Service (BCIS). The data company said that tender prices will rise by 20 per cent in the same period. It also predicted that tender prices…

Rising turnover and slumping profit characterise the CN100 2024 index of top UK contractors, but the outlook remains broadly positive There is a saying among economists that “if you torture the data long enough, it will confess”. At Construction News we like to think that our interrogation techniques reveal the…

James Eager, director at Eric Wright Construction According to the latest figures from the S&P Global UK Construction Purchase Managers’ Index (PMI), the construction growth rate has reached a two-year high, providing yet another indication of the sector’s resilience and adaptability, regardless of the many negative pressures it faces.  “We…

The construction industry has moved closer towards meeting its net-zero ambitions but tough finances and a lack of data are holding back further progress, research has suggested. According to the latest biennial NBS Sustainable Futures Report, nine out of 10 respondents worked on projects with sustainable outcome targets, with almost…

The Construction Leadership Council (CLC) is abandoning a tech project aimed at eliminating retentions due to a lack of industry engagement.  In October 2023 the CLC announced it was launching a pilot project with trade body Actuate UK, Cranfield University and not-for-profit Get It Right Initiative to tackle project defects…

Official construction output data has revealed more signs of recovery with 0.5 per cent growth in June. The latest figures from the Office for National Statistics revealed the estimated increase came from rises in both new work (0.9 per cent), and repair and maintenance (0.1 per cent). This follows growth…

The construction sector has yet to benefit from a post-election boom, according to activity figures for July. Analysis from construction data experts at Barbour ABI found the Labour Party’s victory has failed to boost the sector, despite an uptick in energy projects moving forward. Across the board, contract awards were…

Output in the construction sector is forecast to fall back because of the impact of the rise in the cost of mortgages on housing demand. The Construction Products Association (CPA) projected that total construction output would fall by 2.9 per cent this year, before recovering by 2 per cent in…

CYBER WARNING Cyber attacks in the construction sector accounted for nearly 6 per cent of all incident responses from cybersecurity specialist Kroll during the first quarter – double the percentage in Q1 2023. In its latest quarterly Cyber Threat Landscape Report in May, Kroll said: “The reason for these rising…

The “seismic” outcome of the general election is expected to boost key parts of the construction industry. In particular, strong improvements should come in the private housing, retail and office refurbishment sectors, according to Glenigan’s construction industry forecast for 2024-26. Although the data specialist warned of “near-term challenges”, including slow…