The State of Trade Survey for Q4 confirmed that construction product manufacturers’ sales continued to be held back by weak construction demand at the end of last year. In a quarter that was already characterised by the lingering uncertainty of early 2025 and few signs of a recovery, the late Autumn Budget at the end of November continued to hold off investment decisions on new construction projects and keep homebuyer and home improver demand subdued. The effect was particularly acute for the heavy side, where 81% of manufacturers reported a quarterly decrease in sales volumes and 57% reported a fall compared to a year earlier. These were both the lowest balances since the pandemic-hit quarters of 2020. It was slightly more positive for manufacturers on the light side, in that sales volumes rose during the quarter, according to a balance of 13% of firms, but this was the lowest balance in 18 months.