Market forecast: Past the peak


The initial market reaction to the Brexit vote was muted, with output soon recovering strongly, but the trend seems likely to have turned, just as our exit from the EU is imminent. Michael Hubbard of Aecom reports

01 / Executive summary

Tender price index ▲

Tender prices increased by 1.4% over the year at Q3 2018. Inflationary pressures remain evident despite a trend to lower industry output.

Building cost index ▲

A composite measure of building input costs recorded a 4% yearly rate of change in Q3 2018. Input costs for construction labour and materials are maintaining cost pressures well above those for general economic measures.

Consumer prices index ▲

The annual rate of change eased to 2.4% in September. The yearly rate of change is the lowest for three months; it is below market expectations but still above its target of 2%.

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