Construction pressures easing but we’re not out of the woods yet

Following the latest CIPS PMI construction stats which found construction growth slowing in December, Fraser Johns, finance director at Beard, said: “While growth slowed in December, the overall picture is a positive one. Supplier delays are easing slightly, price inflation is reducing and starting to find its new level, and customer demand has remained resilient.

“We are clearly still not quite out of the woods, with Covid cases rising and remaining uncertainty surrounding this latest variant.  Construction firms will need to ensure their safety measures are up to scratch.

“While there are certainly challenges, the new year will present opportunities. Customer demand hasn’t been hampered too much by the new variant, and in fact the latest rise in overall new order volumes was the largest since August.

“To be successful in 2022 construction firms will need to be adaptable to overcome the hurdles on the horizon, which entails strong collaboration with all stakeholders. At Beard we are implementing thorough measures to help protect staff and we continue to keep our relationships with suppliers top of our agenda, ensuring frequent communications and prompt payments.  This will continue to benefit all stakeholders from suppliers through to the end customer.”