The report posted growth of 56.3 in January, up from 54.3 in December, as the industry started the year strongly.

A figure above 50.0 indicates expansion, with this being the twelfth consecutive month of growth.

The index says supplier lead times continued to lengthen last month as staff shortages and a lack of haulage availability slowed deliveries.

But adds: “However, the peak phase of supply chain difficulties appears to have passed as the latest downturn in vendor performance was the smallest since September 2020.”

A breakdown of the sector saw house building activity increase at the slowest pace for four months, at 54.3. Commercial work was the best-performing category, at 57.6, with Civil engineering returning to growth in January coming in at 53.2.

The survey says: “Input buying picked up at the start of 2022, reflecting new project starts and stock building efforts.

“Despite another rise in demand for construction products and materials, the latest survey pointed to a turnaround in supply pressures. Construction firms recorded the least widespread delays for almost one-and-a-half years.”

IHS Markit director Tim Moore adds: “Residential work increased at one of the slowest rates since spring 2020, which is an early sign that cost of living concerns and rising interest rates could start to dampen the post-lockdown surge in spending.”

Brokerage XTB market analyst Walid Koudmani says: “The UK construction sector continued to gain momentum after a difficult end to 2021 thanks to an improvement in commercial activity which helped offset a weak rise in house building.

“Improvements were also helped by a drop in cost inflation which fell to a 10-month low thanks to an easing of supply issues, which have been affecting the sector for months.

“As a result, commercial work helped construction growth reach a six-month high but with supplier lead times continuing to lengthen in January as staff shortages and a lack of haulage availability hindered deliveries, the situation continues to be uncertain.”

Yesterday, the Bank of England’s Monetary Policy Committee lifted its base rate to 0.5% from 0.25%, to combat rising inflation.

Inflation is currently at 5.4%, driven by rising gas and electricity costs, well above the Bank’s 2% target.

The Bank added it expects consumer prices index living costs to peak at 7.25% in April, which is around 2% higher than it forecast in its November Report.