Troubles in construction unlikely to be repeated elsewhere

Troubles in construction unlikely to be repeated elsewhere

Output in the construction sector was already 2.3% above its pre-crisis level in March and there is evidence that supply constraints are starting to bite. However, there is still plenty of spare capacity in the economy as a whole and much of the increase in the prices of construction material is being driven by a global shortage. As such, we do not expect the situation in the construction industry to be repeated in other sectors when they reach their pre-crisis peaks.
Thomas Pugh UK Economist
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