Market data Archives - Page 3 of 16

Latest FIS Wage Rate Survey

by Iain McIlwee | Dec 14, 2023 | Market data

To help monitor wage rate inflation (and other contractual issues), FIS launched in 2021 The FIS Wage Rate Index. The aim of this work is to support contract negotiations and to help track the impact of labour shortage on the cost breakdown of projects.

The survey is conducted every six months and FIS is asking all contractor members to take part. Data is published as a price index to allow for regional rate variations and all company specific data is managed in the strictest of confidence. The survey covers core trade roles, labourers, apprentices and construction and site managers.

THE DETAILED RESULTS OF THE SURVEY WILL BE MADE AVAILABLE EXCLUSIVELY TO CONTRIBUTORS.

You can complete the survey via the link here. The survey will close early in the New Year. If you cannot complete, please share the link with the person in your business who can.

Your support is, as ever, appreciated.

CPA provides economic update

by Clair Mooney | Dec 13, 2023 | Market data

The CPA has produced an Economic Update on 8 December which members can access here.

The updated issues are in Pages 1-6 whilst subsequent pages have existing data and information that remain relevant. This update includes:

S&P Global/CIPS UK Construction PMI (November 2023)
ONS UK Construction Materials Price Indices (October 2023)
DBT UK Brick Deliveries (October 2023)

The CPA Construction Forecasts (Autumn 2023) were published on Monday 23 October are available for FIS members to download from the FIS website

Market Data

FIS has access to a wide range of market data from sources including the CPA and Barbour ABI. In addition, FIS produces a state of trade survey specifically for the finishes and interiors sector.

Find out more

Construction Sector Facing Weakness Across the Supply Chain

by Oscar Venus | Dec 4, 2023 | Market data

According to surveys conducted throughout the construction supply chain, the sector experienced a decline in activity during Q3 of 2023. Heavy side and light side manufacturers experienced sales declines, while chartered surveyors saw their workloads decrease. Small and medium-sized contractors, as well as civil engineering contractors, also saw their net workload balances weaken. The surveys revealed that forward-looking questions all pointed to a deteriorating backdrop for the next year. Concerns over demand strength, tighter financial constraints due to raised interest rates, and a decrease in new enquiries – including in sectors that had previously driven construction activity – were all noted. Additionally, construction costs continued to rise, outpacing increases in tender prices and reducing profit margins.

The CPA’s Construction Trade Survey brings together results from surveys of building contractors, specialist contractors, civil contractors and product manufacturers. It provides a pan-industry assessment of current and expected conditions.

Members can access the Trade Survey here

Rate of inflation reducing, but costs are still going up warns FIS

by Iain McIlwee | Nov 8, 2023 | Market data, Material Shortages

The Building Cost Information Service (BCIS) has reported at the start of November that construction materials prices for all work fell by 1.8% in the 12 months to September 2023, according to new figures from the Department for Business and Trade. This was a smaller decrease than the 2.3% drop seen in the year to August 2023. However this does not mean inflation is over and costs are falling, warns FIS.

Commenting on the data FIS CEO, Iain McIlwee stated:

“Whilst it is encouraging to see the rate of inflation coming down, this index does not necessarily reflect what individual contractors are experiencing on the ground. Whilst generic data is helpful, the index is broad and there are fairly large differences between the different material types and the headline may not align to the specific products specialists are procuring or deals they may be locked into.

“Beyond this it is important to remember that materials only typically reflect around 30-40% of the cost of construction and we have continued to see wage rate inflation trending high – the FIS Wage Rate and Productivity Survey published this week pointed to continued day rate inflation across all the key trades in our sector.

“The final cost to factor in, is that new regulation is putting pressure on all in the supply chain and the cost of compliance is impacting prelims.

“Looking ahead, the signs seem to be that the period of hyperinflation has passed, but this doesn’t mean real world prices are falling and we cannot be complacent. The full impact of recent events in the Middle East on energy and material prices remains unknown and just because work may be slowing down in some areas it does not necessarily follow that prices will drop.”

Source: Department for Business & Trade – Monthly Bulletin of Building Materials and Components, Table 1

If you are interested in participating in the FIS Wage Rate Survey and receiving a copy of the data, email iainmcilwee@thefis.org (data goes back to 2020, but is only available to contributing companies).

To see the full report on material prices from BCIS click here

For access to the extensive range of market data available through FIS, click here.

Out now: Regional construction hotspots in Great Britain 2023

by Clair Mooney | Sep 18, 2023 | Market data

The ‘Regional Construction Hotspots in Great Britain 2023’ report from Barbour ABI and the CPA provides a regional analysis of construction contract awards to signal near-term trends in construction that aren’t always reflected in data at a national level. By analysing the value of contracts awarded last year in local authority regions across the residential, infrastructure and commercial sectors, the report identifies ‘hotspots’ and ‘coldspots’ as pockets of growth or contraction over the next 6-24 months. The report is available now to members, which can be access here.

CPA Trade Survey reports another mixed quarter for the construction supply chain

by Clair Mooney | Aug 31, 2023 | Market data

The CPA’s latest Construction Trade Survey for 2023 Q2 showed a mixed view on activity across the construction supply chain. Here are some key findings from the latest survey:

Output & Sales: A mixed quarter for product sales, workloads growth for SME contractors and chartered surveyors was split by sector of activity.
Expectations: Manufacturers’ expectations were mixed, new orders increased for civil engineering contractors, SME enquiries increased overall, but growth was driven by a sole sector.
Costs and Constraints: Costs moderated in Q2 but inflation remained broad-based, with issues related to finance and labour availability rising in prominence.

FIS Members - access your copy now

Read the full results from surveys across the construction supply chain by clicking the button below.

Click Here