{
  "query": "UK construction inflation 2026 contractor performance benchmarks NEC4",
  "claims": [
    {
      "claim": "As of April 2026, year-to-date construction inflation for nonresidential buildings is 4.4%, residential is 4.3%, and non-building is 3.9%.",
      "verbatim_quote": "April 2026 Inflation YTD, Nonresidential Bldgs +4.4%, Residential +4.3% and Non-bldg +3.9%.",
      "source_url": "https://edzarenski.com/2026/05/13/construction-cost-inflation-2026/",
      "relevance": "high"
    },
    {
      "claim": "In early 2026, the effective borrowing rate for UK private non-financial corporations had fallen to approximately 5.66% from a 2024 peak.",
      "verbatim_quote": "the effective rate on new loans to UK private non-financial corporations had fallen from a 2024 peak of 7.26% to around 5.66% by February 2026",
      "source_url": "https://www.tmhcc.com/en/news-and-articles/thought-leadership/uk-construction-sector-report-april-2026",
      "relevance": "medium"
    },
    {
      "claim": "The Glenigan Index for Q1 2026 showed a 10.3% quarter-on-quarter deterioration in construction activity.",
      "verbatim_quote": "The Glenigan Index7 for Q1 2026 illustrates the scale of the deterioration: the overall index is down 10.3% q/q.",
      "source_url": "https://www.tmhcc.com/en/news-and-articles/thought-leadership/uk-construction-sector-report-april-2026",
      "relevance": "medium"
    },
    {
      "claim": "NEC4 contracts utilize secondary option X20 to manage performance through an 'Incentive Schedule' and KPIs.",
      "verbatim_quote": "NEC4 provides for KPIs in secondary option X20. This is done via an ‘Incentive Schedule’, in which the client can set out targets and include amounts to be paid to the contractor if specific targets are met or exceeded.",
      "source_url": "https://www.neccontract.com/news/using-key-performance-indicators-to-improve-how-nec-contracts-are-used?srsltid=AfmBOopjc-IcmuDh8YC9iD894zSVu0SqDRi6RqhXSVqKEs6PFnbSBMXl",
      "relevance": "high"
    },
    {
      "claim": "A proposed 'contract-health-check' KPI for NEC4 includes a target for programme acceptance of a maximum of 31 days since the last acceptance.",
      "verbatim_quote": "KPI-1.1 | Programme acceptance | Number of days since last acceptance by the project manager of a revised programme. | Maximum 31 days",
      "source_url": "https://www.neccontract.com/news/using-key-performance-indicators-to-improve-how-nec-contracts-are-used?srsltid=AfmBOopjc-IcmuDh8YC9iD894zSVu0SqDRi6RqhXSVqKEs6PFnbSBMXl",
      "relevance": "high"
    },
    {
      "claim": "By March 2026, UK residential construction starts had fallen 29.8% compared to the previous year.",
      "verbatim_quote": "In March 2026, residential construction starts were 29.8% below the same month last year",
      "source_url": "https://www.tmhcc.com/en/news-and-articles/thought-leadership/uk-construction-sector-report-april-2026",
      "relevance": "medium"
    }
  ],
  "market_context": "- [HIGH] As of April 2026, year-to-date construction inflation for nonresidential buildings is 4.4%, residential is 4.3%, and non-building is 3.9%. (source: https://edzarenski.com/2026/05/13/construction-cost-inflation-2026/)\n- [MEDIUM] In early 2026, the effective borrowing rate for UK private non-financial corporations had fallen to approximately 5.66% from a 2024 peak. (source: https://www.tmhcc.com/en/news-and-articles/thought-leadership/uk-construction-sector-report-april-2026)\n- [MEDIUM] The Glenigan Index for Q1 2026 showed a 10.3% quarter-on-quarter deterioration in construction activity. (source: https://www.tmhcc.com/en/news-and-articles/thought-leadership/uk-construction-sector-report-april-2026)\n- [HIGH] NEC4 contracts utilize secondary option X20 to manage performance through an 'Incentive Schedule' and KPIs. (source: https://www.neccontract.com/news/using-key-performance-indicators-to-improve-how-nec-contracts-are-used?srsltid=AfmBOopjc-IcmuDh8YC9iD894zSVu0SqDRi6RqhXSVqKEs6PFnbSBMXl)\n- [HIGH] A proposed 'contract-health-check' KPI for NEC4 includes a target for programme acceptance of a maximum of 31 days since the last acceptance. (source: https://www.neccontract.com/news/using-key-performance-indicators-to-improve-how-nec-contracts-are-used?srsltid=AfmBOopjc-IcmuDh8YC9iD894zSVu0SqDRi6RqhXSVqKEs6PFnbSBMXl)\n- [MEDIUM] By March 2026, UK residential construction starts had fallen 29.8% compared to the previous year. (source: https://www.tmhcc.com/en/news-and-articles/thought-leadership/uk-construction-sector-report-april-2026)"
}