A market report from consultancy Gleeds suggests growing concern among the construction sector as it grapples with the effect of the war in Iran.
Global conflicts overtook interest rates and inflation as the primary challenge this quarter, according to the survey, with almost two-thirds citing concerns about the Iran war’s impact on commodity shortages and price increases.
Nearly half of those surveyed said they had turned down a tender opportunity in Q1 in light of the increasingly uncertain environment. And 57% reported that contractors were also becoming more risk-averse, concerned about volatile input costs.
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