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Business momentum since last year ‘wiped out’ by Middle East war as material prices rocket, bellwether index says

By 2026-04-08T12:14:00

Gulf tankers shutterstock

March saw the sharpest month-on-month increase in material costs in nearly three decades following Iran’s closure of the strait of Hormuz

Construction output fell again last month as the Middle East conflict caused the sharpest month-on-month increase in material prices in nearly three decades, according to the latest S&P Global UK Construction Purchasing Managers’ Index.

New orders decreased by one of the sharpest rates in six years, with overall cost inflation increasing to the highest rate since November 2022 at the height of the Ukraine War, the data says.

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