The latest edition of the Economic & Construction Market Review from industry analysts Barbour ABI, highlights levels of construction contract values awarded across Great Britain.
Analysis by sector indicates that residential maintained lead status in September accounting for 32.8% of awards. Infrastructure was the second largest sector in September with attributable share of 20.8% of awards. The commercial and retail sector was the third largest this month accruing 16.1% of the total.
Regional analysis shows that London was the leading region in September with 22.6% of awards. The second largest region was the East of England with 13.7% of awards and was followed by the West Midlands which accounted for 11.0% of awards.
Commenting on the figures, Tom Hall, Chief Economist at Barbour ABI and AMA Research said, “After 3 months of recovering activity, contract awards over July – September returned to pre-Covid-19 average levels. Given the size of the shock to the construction industry and the wider economy that is cause for celebration. However, these numbers will contain an element of catch-up from the lost activity in April ¬– June, so underlying activity is likely to be somewhat weaker than the headline numbers. The recovery so far has been evident more in the public and infrastructure sectors, with the commercially minded sectors remaining slightly subdued. With uncertainties remaining it will be interesting to see how the situation evolves over the coming months.”
