November sees marginal increase as contract awards reach £4.9 billion
The total value of construction contract awards in November 2020 was £4.9 billion (€5.3 billion) based on a three-month rolling average.
This is a marginal 0.2% increase on October but is 9.1% lower than for November 2019.
Contract award numbers decreased by 17.9% last month to 715 compared with 871 in October. Annual comparisons show a 16.4% decrease compared to 855 contract awards for November 2019.
The latest edition of the Economic & Construction Market Review from industry analysts Barbour ABI, highlighted levels of construction contract values awarded across the UK.
In November, London was the leading region with 16.8% of awards and a total of 77 projects. The north-west was only slightly behind accounting for a share of 16.3% of awards and a total of 98 projects. The third largest region this month was the south-east with 13.9% of awards.
Analysis by sector indicated that residential maintained lead status in November accounted for 38.9% of awards.
With 19.1% of awards, infrastructure was the second largest sector this month while in third place commercial and retail held share of 16.3%.
Tom Hall, chief economist at Barbour ABI and AMA Research, said: “The rollout of the COVID-19 vaccine has raised everyone’s hopes of a return to normality at some point in 2021. But in the meantime we will have to manage many downside risks - a thin Brexit deal at the very best, higher unemployment and continuing movement restrictions over winter and spring.”
This is a marginal 0.2% increase on October but is 9.1% lower than for November 2019.
Contract award numbers decreased by 17.9% last month to 715 compared with 871 in October. Annual comparisons show a 16.4% decrease compared to 855 contract awards for November 2019.
The latest edition of the Economic & Construction Market Review from industry analysts Barbour ABI, highlighted levels of construction contract values awarded across the UK.
In November, London was the leading region with 16.8% of awards and a total of 77 projects. The north-west was only slightly behind accounting for a share of 16.3% of awards and a total of 98 projects. The third largest region this month was the south-east with 13.9% of awards.
Analysis by sector indicated that residential maintained lead status in November accounted for 38.9% of awards.
With 19.1% of awards, infrastructure was the second largest sector this month while in third place commercial and retail held share of 16.3%.
Tom Hall, chief economist at Barbour ABI and AMA Research, said: “The rollout of the COVID-19 vaccine has raised everyone’s hopes of a return to normality at some point in 2021. But in the meantime we will have to manage many downside risks - a thin Brexit deal at the very best, higher unemployment and continuing movement restrictions over winter and spring.”
