There remain considerable uncertainties regarding the economic impacts of Russia’s invasion of Ukraine as well as the effects of tightening sanctions on Russia.
Whilst demand in the UK economy and construction currently remains robust, strengthening supply chain constraints and higher inflation will inevitably hit growth.
The extent to which this occurs will be dependent on the extent of the conflict and markets’ uncertainty surrounding its impacts, the duration of the conflict and the length of time at which energy costs remain at post-financial crisis peak levels.
This guidance note from the Construction Products Association looks at the potential ramifications on the construction supply chain.