Cost pressures broadened in Q3

All parts of the construction supply chain experienced continued growth in Q3, according to the Construction Trade Survey.

Construction product manufacturers reported a fifth consecutive quarterly rise in product sales, whilst SME building contractors and chartered surveyors registered another increase in workloads. However, given ongoing issues on the supply side and the subsequent impact on cost inflation, all balances came in lower than in Q2. Nevertheless, growth remained widespread across sectors and continued to be steered by private housing and RM&I due to strong demand for larger properties with outdoor and office/study space to accommodate homeworking.

The CPA’s Construction Trade Survey brings together results from surveys of building contractors, specialist contractors, civil contractors and product manufacturers. It provides a pan-industry assessment of current and expected conditions. FIS members can download the full report here.