Latest News Wed, Jul 29, 2020 10:21 AM
The total value of construction contract awards in June 2020 was £2.2billion based on a three-month rolling average.
Compared to May, this is a decrease of 9.2% and is also 57.3% lower than June2019.
However, contract award numbers in June increased by 81.4%to 477, signalling an improvement in conditions.
The latest edition of the Economic & Construction Market Review from industry analysts Barbour ABI, highlights levels of construction contract values awarded across Great Britain.
The residential sector again dominated the share of contract awards with a total of 33.9%. Despite this, the largest project awarded for June was in the Infrastructure sector with the Gatwick Airport railway station refurbishment, valuing in at £150million.
Analysis shows that London has had the largest share of contracts awarded in June at 26.1%. This is followed by the South East at 16.4% and then the North West at 13.6%. Wales was again the smallest region with only 1.4% of awards.
Tom Hall, Chief Economist at Barbour ABI and AMA Research said: “The UK economy plateaued in May as the easing of some lockdown restrictions mid-way through the month failed to significantly increase output. In-month GDP growth was 1.8% after the 20% contraction in April.
“With the outcome underwhelming compared to city economists’ expectations of 5.5% growth, output remains 25% down compared to February. June’s figures published next month will give a better understanding of how quickly lost output can be regained as larger parts of the economy resumed activity.”
Featured News
Ground-breaking data analysis by socio-economic experts at Marrons has revealed areas...
Mitsubishi Electric has welcomed a new code of conduct on energy smart appliances...
BUILDING PRODUCT LIBRARY - LATEST BROCHURES
FRAMESAFE FR A2 FIRE...
By Glidevale Protect
A Guide to Aluminium...
By F.H. Brundle
Handrailing & Balust...
By F.H. Brundle
RLG600 Access Floori...
By Kingspan Data & Floo...
RHG600 Simploc
By Kingspan Data & Floo...
BUILDING PRODUCT DIRECTORY - LATEST PRODUCTS
Straightcurve® – headquartered in Australia, is renowned for high-end innovative garden edging,...
The Kingspan RLG600 raised access floor panel is intended for light office use and is capable of...
Kingspan RHG600 Simploc is the heavy grade floor system, capable of handling up to a 12kN/m2...
CONSTRUCTION VIDEOS - LATEST VIDEOS
Straightcurve® Product Range Overview - A Demonstration of Installation Ease
In progressive and dynamic business sectors, such as construction, it’s natural to be forward...
Decorative aluminium horizontal bulkheads more than 100 metres long have been supplied and installed...