Indicators
UK Construction Material Costs Slide at Fastest Pace in 14 Years
- Sharp slump in housebuilding drives drop in activity
- Cost and supply chain pressures ease with slower demand
New build houses at a development under construction in Wakefield, UK.
Photographer: Dominic Lipinski/BloombergThis article is for subscribers only.
UK construction companies reported the sharpest drop in the cost of building materials in 14 years, adding to signs that a more sluggish economy is starting to ease inflationary pressures.
S&P Global’s construction purchasing managers edged up to 45.6 in October from 45 the previous month, remaining well below the threshold of 50 indicating a contraction. October’s reading was the second-worst since the first Covid lockdown.