Housing growth tumbles as runaway inflation dogs industry, bellwether report says

By Daniel Gayne2022-06-08T10:59:00

Source: Shutterstock

Workload expectations at lowest level since August 2020

Purchasing managers are reporting a growth slowdown in construction as subdued consumer confidence and concerns about the economic outlook take hold.

Business activity expectations at construction companies are their least upbeat since August 2020, while the rise in housing activity in May was its weakest since the beginning of the recovery two years ago.

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