Home » BCIS webinar – Construction outlook: what’s next for the industry?

BCIS webinar – Construction outlook: what’s next for the industry?

Published: 11/06/2024

Following two quarters of falling output, GDP grew by 0.6% in the first quarter of 2024. This growth, however, was driven by the services and production sectors and not by construction, which contracted by 0.9%.

Continued high borrowing costs, a risk averse market and significant concerns around affordability have all impacted construction demand, with output across the sector expected to decline further over the rest of this year, before returning to growth in 2025. Add to this the lasting effects of recent global events and the largely unexpected announcement of a July general election, and the industry is left with a lingering air of uncertainty.

Whichever party emerges as victor at the ballot box on 4 July will face significant economic challenges as they form the new government. Working out how to effectively support growth in construction will be among them, and this will involve big decisions on everything from net zero targets and a housing strategy to public sector spending and the management of major infrastructure projects.

Join us for our next construction outlook webinar, ‘Construction outlook: what’s next for the industry?’, in which we’ll consider the economic backdrop to current political movements. We’ll present the latest output figures for new work and repair and maintenance, outline our expectations for input costs over the next five years, and share insights from the BCIS expert panels on the tendering environment.

Date: Tuesday 25th June 2024

Time: 11am

BCIS

The Building Cost Information Service (BCIS) is the leading provider of cost and carbon data to the UK built environment. Over 4,000 subscribing consultants, clients and contractors use BCIS products to control costs, manage budgets, mitigate risk and improve project performance. If you would like to speak with the team call us +44 0330 341 1000, email contactbcis@bcis.co.uk or fill in our demonstration form

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