IMF head warns Middle East war will lead to higher inflation and slower global growth
Construction activity in the UK has tumbled as the industry struggles to cushion the blows from the war in the Middle East and a persistently weak economy, according to a survey.
Work starting on site declined by 17% in the three months to March compared with the fourth quarter of last year, and was 18% below 2025 levels, according to Glenigan’s latest construction index.
The US-Israel war on Iran started at the end of February and shows no sign of coming to an end any time soon, resulting in considerable uncertainty for the construction sector.
Residential construction dropped by 13% quarter on quarter, and was down 30% year on year, also hit by confusion around planning policy and a weak economy.
