construction

This shift will mean higher construction costs for developers, with some social housing projects likely to be abandoned or delayed, according to the Northern Ireland Federation for Housing Associations.

Government spending, private consumption and facility investments led growth largely on a series of cash handouts to households and other fiscal support, while construction investments still remained sluggish.

Markets in the sunbelt “are seeing inventory rebound more quickly and face more pronounced buyer pushback, especially where new construction adds competition,” Realtor.com senior economist Anthony Smith said in a statement.

Paychecks delayed for federal workers, delayed contracts, halted construction projects — these second-order effects will start showing up in earnings, consumer data and sentiment.

The Cabinet Office withdrew its guidance on PBAs in July, despite describing them as a "pioneering new way of paying supply chain members in construction".