Summing up
As 2024 ends, the UK construction industry reflects on a year of mixed challenges and opportunities. Following a short-lived recession and high inflation, economic conditions improved, with falling interest rates boosting optimism. By year’s end, only 16% of our survey respondents anticipated fewer tender opportunities in 2025, with 38% predicting growth.
The Labour Party’s landslide victory and the King’s Speech legislative agenda, including the Planning and Infrastructure Bill, offered hope for construction, though doubts persist about delivering major pledges like 1.5 million new homes.
Investor confidence and insolvencies, highlighted by ISG’s collapse, remain pressing concerns, along with labour shortages and public finance challenges. Despite this, industry sentiment improved, with the S&P Global UK Construction PMI reaching 54.3 in October.
As the sector looks ahead, lessons from 2024 will shape responses to evolving challenges and opportunities in 2025.
Nicola Sharkey
Project Director, Head of Intelligence
Ned Chehalfi
Research Manager, Intelligence
James Garner
Senior Director, Global Head of Data, Insights and Analytics
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Get in touch with our Intelligence team
James Garner
Senior Director, Global Head of Data, Insights and Analytics
Nicola Sharkey
Project Director, Head of Intelligence
Ned Chehalfi
Research Manager, Intelligence
Jayashree Srinivasaragavan
Cost Manager, Intelligence Lead for India
Edna Benavides
Associate Director, Intelligence Lead for Europe
Simon McElroy
Intelligence Research Assistant, Europe
Res Orgut
Associate Director, Intelligence Lead for US
Sherif Sweillam
Director, Head of Business Operations, Intelligence Lead for Egypt
Mina Rofael
Associate Cost Manager, Intelligence Specialist
Summing up
As 2024 ends, the UK construction industry reflects on a year of mixed challenges and opportunities. Following a short-lived recession and high inflation, economic conditions improved, with falling interest rates boosting optimism. By year’s end, only 16% of our survey respondents anticipated fewer tender opportunities in 2025, with 38% predicting growth.
The Labour Party’s landslide victory and the King’s Speech legislative agenda, including the Planning and Infrastructure Bill, offered hope for construction, though doubts persist about delivering major pledges like 1.5 million new homes.
Investor confidence and insolvencies, highlighted by ISG’s collapse, remain pressing concerns, along with labour shortages and public finance challenges. Despite this, industry sentiment improved, with the S&P Global UK Construction PMI reaching 54.3 in October.
As the sector looks ahead, lessons from 2024 will shape responses to evolving challenges and opportunities in 2025.
Intelligence team contacts
Intelligence team contacts
James Garner
Senior Director, Global Head of Data and Intelligence
Nicola Sharkey
Project Director, Head of Intelligence
Ned Chehalfi
Research Manager, Intelligence
Edna Benavides
Associate Director, Intelligence Lead for Europe
Simon McElroy
Intelligence Research Assistant, Europe
Jayashree Srinivasaragavan
Cost Manager, Intelligence Lead for India
Res Orgut
Associate Director, Intelligence Lead for US
Sherif Sweillam
Director, Head of Business Operations, Intelligence Lead for Egypt
Mina Rofael
Associate Cost Manager, Intelligence Specialist at Gleeds
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