Growing commercial workloads expected to see more orders next year
Rider Levett Bucknall has said that new work orders are on the rise with the commercial sector helping drive an improving economic picture.
In its Q3 report, the consultant said there was growth of nearly18% and over 16% respectively in new work orders in the first two quarters of 2024.
It said that private commercial in bot new build and maintenance was on the rise with the firm’s Q3 tender price forecast standing at 2.97% compared to a previous forecast for the year of 3.38%.
But the firm said contractors and subcontractors remain worried around labour shortages.
RLB’s head of research Roger Hogg said: “While some regional forecasts have been trimmed slightly, there is prospect of more work entering the marketplace next year, which is set to constrain any current breakout of price inflation on a project basis.”
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