Summary of Construction Market Barometer
The latest UK Construction Market Barometer was published in May 2018. The barometer contains the results of a market survey completed by senior executives from across the construction industry. Respondents include manufacturers, contractors, architects and service providers with most contributors having a sales, marketing or business development role within their construction related company. The survey covers areas such as changes in marketing spend levels, marketing recruitment, sales in previous 6 months and forecast for next 6 months. The barometer has been published on a regular basis since 2008 and is run in association with Construction News and the Chartered Institute of Marketing’s Construction Industry Group.
How to obtain the Construction Industry Barometer
The full construction market report is available free to all survey respondents. A summary version is available, also free, to those who did not participate in the survey.
To receive a full copy of the report and participate in the next survey please contact us.
Construction Industry Forecast
We also publish a regular Construction Forecast, which looks at construction output by sector 2017 – 2020, for more details click here.
Press Release for Construction Barometer Survey – May 2018
Sales expectations in the construction sector over the next 6 months have dropped since April last year.
44% of companies are confident of a sales increase over the next 6 months compared to 56% in April 2017. The housing market, both new build and repair and maintenance, is expected to be the best performing sector. The average sales increase over the last 6 months (October 2017 to March 2018) compared to a year earlier was 2.8%, a decrease from 4.3% seen in April 2017.
Marketing budgets have seen a slight increase compared to April 2017. The average forecast increase in marketing spend for the next 12 months has increased from 0.3% in April 2017 to 1.6% in Aprl 2018. Mel Budd, Director at Leading Edge commented, “the survey shows that 42% of companies are planning an increase in their marketing budgets with 34% looking to increase their headcount over the next year.”
Mel commented that “Brexit is continuing to cause uncertainty in the UK construction industry, with labour availabitlity, labour costs and increasing material costs due to exchange rates causing concern.”