Summary of Construction Market Barometer
The latest UK Construction Market Barometer was published in May 2017. 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 2017
Construction barometer shows signs of sales improvements
Sales expectations in the construction sector over the next 6 months have recovered from the low seen in October 2016.
The April 2017 Construction Industry Barometer, completed by senior executives from across the construction supply chain, was published by construction market research specialists Leading Edge, in association with CIMCIG (The Chartered Institute of Marketing’s Construction Interest Group) and Construction News.
In terms of sales performance, the average sales increase over the last 6 months (October 2016 to March 2017) compared to a year earlier was 4.3%, an increase from the low of 1.6% seen in October 2016 and returning closer to the average sales increases of 5% plus seen in the preceding 6 surveys. 56% of companies are confident of a sales increase over the next 6 months with the new build market continuing to lead growth in the construction industry and the housing sector particularly upbeat.
However, marketing budgets have seen a slight fall compared to October 2016. The average forecast increase in marketing spend for the next 12 months has dropped to 0.3% from 0.8% in October 2016. Mel Budd, Director at Leading Edge commented, “the survey shows that less than half of companies are planning an increase in their marketing budgets with a much smaller number, at 14%, looking to reduce their marketing spend over the next year.”
Mel commented that “Brexit is continuing to have an effect on the UK construction industry, particularly on material costs due to exchange rates while labour availability is also causing concern. The survey showed there is uncertainty in the market which has caused some building projects to be stalled or reviewed.”