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PwC comments on the PMI Construction Index for March

Lucy Fulmer, PwC’s Creditor Markets lead, reflects on healthy order books versus cost inflation issues, highlighted in the March PMI Construction Index, released today:

“March’s results build on an increasing optimism within the industry, with a continued rise in the UK’s Construction output. Clients are reporting that sales are strong and order books full, as mirrored in today’s statistics. However, the unprecedented cost inflation issues including: material, labour, haulage and energy prices are impacting on net margin.”

“To weather this storm, we’re finding that clients are looking to approaches such as increased product standardisation, increased competitive sourcing and implementing temporary surcharges to pass on cost increases and negotiating ‘cost plus’ instead of fixed price contracts.”  

 

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