Bank's Barker says housing and construction under pressure

LONDON (Reuters (LSE: TRIL.L - news) ) - The housing market and construction sector are facing great difficulty, Bank of England Monetary Policy Committee member Kate Barker was quoted as saying in a newspaper.

"Different sectors are suffering different pressures -- the construction industry in particular and housing are under enormous pressure," Barker was quoted as saying in Wednesday's edition of the Lincolnshire Echo.

Barker, who was on a regional visit to the east of England, told the newspaper that the big question for companies was how far they could contain costs.

"The thing that has stood out for me is just how strong some firms' cost pressures are, coming from food, oil and other commodities. We know this because producer prices are so strong."

Source: http://uk.biz.yahoo.com/03072008/325/bank-s-barker-says-housing-construction-under-pressure.html