Construction hoping for clarity on where and when money will be spent, consultant adds

Rider Levett Bucknall has said optimism in the industry is growing ahead of next week鈥檚 Spending Review.

Next Wednesday鈥檚 announcement is being seen as giving clarity on how much money will be spent by government and where.

In its Q2 forecast, the firm said: 鈥淭he UK construction sector continues to grapple with sluggish growth and persistent inflation, causing a tempered outlook.鈥�

reeves

Source: HM Treasury/Flickr

Chancellor Rachel Reeves is due to announce details of the government鈥檚 Spending Review next Wednesday

But it added: 鈥淭here is cautious optimism in the sector ahead of the Spending Review. While the recently signed UK trade deal [with the US] has eased some international trade pressures, its impact on construction is felt to be limited. Industry stakeholders are now turning to the Spending Review for signals on public investment and pipeline priorities.鈥�

The firm said it had revised its Q2 tender price forecast to 3.22%, a marginal uptick from the previous quarter鈥檚 forecast of 3.21%.

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