Double-dose of good news for construction
The latest construction industry buyer report, the Markit/CIPS UK Construction PMI Total Activity Index, indicates that the industry's materials shortage situation is improving. Meanwhile, order books are the strongest they have been since last August.
Construction Enquirer reports that an "improved alignment between demand and supply" helped to "soften inflationary pressures at the end of 2021".
Purchasing activity increased at the slowest pace for three months, while supplier lead times lengthened to the least marked extent since November 2020.
Where longer wait times were reported, this was mostly linked to international shipping delays and shortages of haulage drivers.
Duncan Brock, Group Director at the Chartered Institute of Procurement & Supply, said: “Though the overall index moved down slightly in December there was light at the end of the tunnel for builders in terms of the strongest order numbers since August, reduced pressure on business costs and some improved delivery times for essential materials.
“Residential building has powered on every month since June 2020 and was the best performing category in the last month of 2021."