{
  "query": "UK construction cost inflation 2026 steel industry benchmarks NEC4 contract trends",
  "claims": [
    {
      "claim": "Global construction cost inflation is projected to rise marginally to 4 percent in 2026.",
      "verbatim_quote": "On average, construction cost inflation is projected to settle at 3.9 percent globally in 2025, before rising marginally to 4 percent in 2026, though regional disparities persist.",
      "source_url": "https://publications.turnerandtownsend.com/global-construction-market-intelligence-2025/global-construction-cost-trends",
      "relevance": "high"
    },
    {
      "claim": "UK construction output is forecast to increase by 1.5% in 2026, with residential construction specifically set to increase by 3.5%.",
      "verbatim_quote": "This year construction output is forecast to increase by 1.5% in 2026. [...] Residential construction is set to increase by 3.5% this year.",
      "source_url": "https://group.atradius.com/knowledge-and-research/reports/industry-trends-construction-february-2026",
      "relevance": "high"
    },
    {
      "claim": "Non-residential construction activity in the UK is forecast to contract by 1% in 2026 due to increased employment costs.",
      "verbatim_quote": "Therefore, non-residential construction activity is forecast to contract by 1% in 2026.",
      "source_url": "https://group.atradius.com/knowledge-and-research/reports/industry-trends-construction-february-2026",
      "relevance": "high"
    },
    {
      "claim": "Rising employment costs from the UK Autumn Budget, including higher minimum wage and National Insurance contributions, are expected to pressure margins in 2026.",
      "verbatim_quote": "That said, rising employment costs from the Autumn Budget – higher minimum wage and National Insurance contributions, will undoubtedly add pressure to already tight margins.",
      "source_url": "https://asd.ltd/construction-trends-2026/",
      "relevance": "medium"
    },
    {
      "claim": "The UK steel industry is seeing a shift toward lower upfront embodied carbon EAF steel and recycled steel in 2026.",
      "verbatim_quote": "The specification of lower upfront embodied carbon EAF steel continues to be a strategy on commercial schemes. [...] Lightweight cellular beams, engineered timber, recycled steel, and emerging low-carbon concrete mixes are becoming more visible across projects",
      "source_url": "https://asd.ltd/construction-trends-2026/",
      "relevance": "high"
    },
    {
      "claim": "Contractors are increasingly using escalation clauses to manage material cost increases, particularly for steel and aluminum which have seen significant tariff impacts.",
      "verbatim_quote": "Many mid-market builders are incorporating tariff-adjustment or escalation clauses to pass cost increases directly to project owners.",
      "source_url": "https://www.deloitte.com/us/en/insights/industry/engineering-and-construction/engineering-and-construction-industry-outlook.html",
      "relevance": "medium"
    }
  ],
  "market_context": "- [HIGH] Global construction cost inflation is projected to rise marginally to 4 percent in 2026. (source: https://publications.turnerandtownsend.com/global-construction-market-intelligence-2025/global-construction-cost-trends)\n- [HIGH] UK construction output is forecast to increase by 1.5% in 2026, with residential construction specifically set to increase by 3.5%. (source: https://group.atradius.com/knowledge-and-research/reports/industry-trends-construction-february-2026)\n- [HIGH] Non-residential construction activity in the UK is forecast to contract by 1% in 2026 due to increased employment costs. (source: https://group.atradius.com/knowledge-and-research/reports/industry-trends-construction-february-2026)\n- [MEDIUM] Rising employment costs from the UK Autumn Budget, including higher minimum wage and National Insurance contributions, are expected to pressure margins in 2026. (source: https://asd.ltd/construction-trends-2026/)\n- [HIGH] The UK steel industry is seeing a shift toward lower upfront embodied carbon EAF steel and recycled steel in 2026. (source: https://asd.ltd/construction-trends-2026/)\n- [MEDIUM] Contractors are increasingly using escalation clauses to manage material cost increases, particularly for steel and aluminum which have seen significant tariff impacts. (source: https://www.deloitte.com/us/en/insights/industry/engineering-and-construction/engineering-and-construction-industry-outlook.html)"
}