The U.K. construction industry is facing shortages and higher costs for components due to “factors including high demand, coupled with escalating prices for shipping and delays at some British ports”, according to the Builders Merchant Federation. Elevated shipping costs are a global phenomenon and will likely continue to impact firms’ costs through much of H1’21. U.K. imports of building supplies depend heavily on markets outside Europe, with China representing 19.1% of shipments and the U.S. 13.8%. Imports rose by 9.8% year over year in the three months to Nov. 30, potentially reflecti...