Notes on construction

Latest · 22 September 2026

Twelve per cent

The July figure of minus 12.2 per cent covers a single month; the cumulative fall is 2.7. The real number is in new contracts: minus 24.8 per cent. What disappears from margin in a year like this — unpriced scope, unsigned variation orders, unclaimed retention — and how much of it one connected process solves.

Papp Gábor  ·  8 min read