December data indicated another solid fall in UK construction activity, although the rate of decline eased to the slowest since the current phase of decline began last September. A sustained slump in house building was the main factor holding back construction output, which survey respondents linked to elevated interest rates and subdued confidence among clients. Improving supply conditions continued in December, with delivery times for construction items shortening for the tenth month in a row. Price discounting among suppliers contributed to a moderate fall in average cost burdens across the construction sector at ... (full story)