The cost of living crisis is something that’s repeatedly filling our news streams with reports of how this is affecting people, businesses and whole industries.
Now, it has been revealed that, during 2022, high levels of inflation on building materials has made its mark on the UK’s construction sector – taking the total cost of construction output for the year to a record level of £204bn.
Read on for more on this story as well as what the experts are predicting for 2023…
The Construction Product Association’s latest Spring Forecast, published today, paints a mixed picture for the construction industry. On the positive side, the report is predicting that construction output will rise by 12.9% this year (and another 5.2% in 2022). However, it also highlights some significant risks to the sector’s recovery, most notably around shortages and high prices affecting key construction products. Take a look at this week’s blog to find out more about why getting hold of some of these products could prove tricky over the year ahead.