LNB News 04/11/2021
Document Information
Issue Date: 04 November 2021
Published Date: 04 November 2021
Jurisdiction(s): United Kingdom
The Royal Institution of Chartered Surveyors (RICS) has reported that in the third quarter (Q3) of 2021, the global construction market continues to strengthen despite material cost and shortages, with workloads across all sectors expected to deliver a rise in output over the next year. Leading this growth is infrastructure, with 49% of built environment professionals predicting a rise in output, particularly in areas such as energy and information and communications technology, according to the latest feedback to the RICS Global Construction Monitor. The pace of growth appears to have eased slightly with the Global Construction Activity Index dipping from +25% in Q2 to +18% in Q3. This can be attributed to the continued pressures hindering activity, with 83% of respondents noting material price inflation as a key impediment and anticipating costs to increase by 7% over the next year. At regional level, the Index shows Europe as the strongest region in Q3, with robust growth anticipated...
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