The Chartered Institute of Building (CIOB)’s Post

Rising costs and contracting demand present challenges for the construction industry. At ILJ Logistics, we streamline logistics to help you stay competitive and efficient. Despite a forecasted 5.5% output drop in 2024, we're ready to support your growth as the market rebounds with a projected 20% increase by 2029. Let's build the future together! #ConstructionLogistics #BuildingForecast #IndustryGrowth #Efficiency

December data indicated another solid fall in UK construction activity, although the rate of decline eased to the slowest since the current phase of decline began last September. A sustained slump in house building was the main factor holding back construction output, which survey respondents linked to elevated interest rates and subdued confidence among clients. Improving supply conditions continued in December, with delivery times for construction items shortening for the tenth month in a row. Read more at 👇 #construction #constructionindustry #constructionbusiness

Building costs will increase by 15% over the next five years, while tender prices will rise by 19% over the same period, according to the latest construction forecast data from the Building Cost Information Service (BCIS).

Building costs will rise by 15% over the next five years while tender prices will rise by 19% over the same period, according to the latest forecast. The construction forecast data from the Building Cost Information Service (BCIS) also states that as demand in the sector continues to contract, overall output is expected to fall by 5.5% in 2024, compared with last year.

The UK construction sector picked up slightly in October, but remained in decline, amid a further slump in housebuilding. The latest S&P Global/Chartered Institute of Procurement & Supply construction purchasing managers' index rose to 45.6 points in October, from 45.0 in September, the second-lowest reading since May 2020. The survey showed “challenging” business conditions persisted during October, with business activity falling for the second month running amid a lack of new work to replace completed projects. “House building decreased for the eleventh successive month in October and at a much steeper pace than elsewhere in the construction sector (index at 38.5),” S&P Global said. “Falling work on residential construction projects was widely linked to a lack of demand and subsequent cutbacks to new projects,” the survey reported. More at #Proactive #ProactiveInvestors #housebuilding #UK #construction http://ow.ly/LksF1050llc

Building costs will increase by 15% over the next five years, while tender prices will rise by 19% over the same period, according to the latest construction forecast data from BCIS. Find out more ⬇️

Construction Industry is Stabilising There are signs that the UK’s construction industry is picking up pace and for the first time in two years builders are feeling more optimistic. In the latest S&P Global/CIPS construction purchasing managers’ index (PMI) there was a score of 49.7 last month compared to 48.8 the previous month, any score below 50 shows the sector is shrinking. According to the survey there has been an improvement in market conditions and this has led to the foundation for residential construction work to settle. https://lnkd.in/eJs8bAk2

It is exciting to hear analysts say that with the stabilization of supply chains and material prices, the construction industry in the U.S. and Canada is anticipated to experience significant growth in 2024. This positive trajectory is attributed to the increasing demand for housing and the implementation of return-to-office policies by several companies, driving momentum and prosperity in the construction sector. 🏗️🌐 #ConstructionIndustry #EconomicOutlook #SupplyChainStability #ConstructionGrowth #IndustryForecast #BusinessProspects

Building costs forecast to continue rising https://lnkd.in/eZK4zw7M #BuildingUK #ConstructionUK

Britain’s construction industry continued to be plagued by higher interest rates last month but there are signs that the sector is in the early stages of a recovery on hopes of a sustained fall in borrowing costs. The S&P Global and CIPS purchasing managers’ index (PMI) for the UK construction sector improved to 46.8 in December from 45.5 the previous month. Although last month’s reading topped City analysts’ expectations, it was still well below the 50-point threshold that separates growth from contraction. Sluggish housebuilding activity dragged overall PMI lower, driven by developers cutting back on projects because of weak demand caused by higher interest rates. Supply has been running at levels consistent with the 2009 credit crunch but the figures suggest that building activity is beginning to turn a corner, the index having edged up to 41.1 from 39.2.