Market forecast: Output rises

Yearly % change Market Forecast Q4 2019 2020-02-13 at 16.18.48

New work output expanded in the latest quarter to a year-on-year figure of 4%

01 / Summary

Tender price index ▲

Tender prices increased by 2.3% over the year at Q4 2019. Although still positive on a yearly basis, it is the fourth consecutive quarter where the rate of change slowed. 

Building cost index ▲

A composite measure of building input costs recorded a 3.4% yearly rate of change in Q4 2019. Materials prices mostly fell from Q3 to Q4 but labour rates stayed elevated in the main. 

Consumer prices index ▲

The annual rate of change slipped to 1.3% in December 2019 from 1.5% a month before. This is significantly below its target rate of 2% but will help real-terms wage increases.

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