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UK Construction Activity Slowest in Nine Months -PMI
Date: July 6, 2022
By David Milliken LONDON (Reuters) – Activity in Britain’s construction sector slowed sharply last month, with the weakest expansion since September 2021, as fears for the economic outlook caused house-building to contract for the first time since early in the COVID-19 pandemic. The S&P Global Purchasing Managers’ Index (PMI) for the construction sector dropped to...
Analysis-Italy’s “drugged” Construction Boom Hits a Wall
Date: June 22, 2022
By Gavin Jones ROME (Reuters) – Innovative incentives for people to green up their homes revived Italy’s construction sector last year, boosted its economy and drew international praise. A few months on it is close to ending in tears. The complex system of tradeable tax credits that supercharged the sector has ground to a halt,...
Bouygues Remains ‘vigilant’ About Indirect Cost Hit From Ukraine Conflict
Date: May 12, 2022
By Valentine Baldassari (Reuters) -French conglomerate Bouygues on Thursday said it saw no direct impact on its business from the Ukraine conflict after reporting a smaller-than-expected first-quarter operating loss, but said there could be an indirect hit through material and labour costs. Bouygues reiterated its outlook for higher 2022 sales and current operating profit, but...
Britain’s Barratt Upbeat on Housing Demand, Urges Rethink on Safety Levy
Date: May 5, 2022
(Reuters) -British housebuilder Barratt on Thursday expressed confidence about housing demand, but urged the government to rethink its plan to expand a tax on companies to fund the removal of flammable roof coverings from buildings. Britain last month agreed to a 5-billion-pound ($6.5 billion) levy on dozens of housebuilders to remove flammable cladding from buildings,...
Plumbing Supplier Geberit to Hike Prices Again as Costs Rise
Date: May 4, 2022
By John Revill ZURICH (Reuters) -Geberit will raise prices again this year as it tackles “an unprecedented surge” in raw materials costs hitting the construction industry, the Swiss plumbing products maker said on Wednesday. The company – seen as a proxy for the broader construction sector, as its products, such as bathroom ceramics and pipes,...
UK’s Travis Perkins Sees More Uncertain Outlook for Building Materials Inflation
Date: April 29, 2022
LONDON (Reuters) -Travis Perkins, Britain’s biggest seller of building materials, said on Friday its forecast for materials price inflation, which it had expected to ease into the second half of the year, was now more uncertain. The group, which trades from over 700 branches in the United Kingdom, said increased prices were likely to form...