8 INDUSTRY NEWS
Contract values down in April, review finds
volume of projects awarded must be at a lower value than March. The north west had the largest share of
contract awards in April at 15.7 per cent, which was closely followed by London with a 15.2 per cent share. The only other region to obtain more than a 10 per cent share of contract awards in April was the south east, with 14 per cent. Following the trend for the quarter,
The value of all construction contract awards in April 2019 was £5.2bn, a decrease of 2.1 per cent year on year, according to Barbour ABI’s latest edition of the
Economic & Construction Market Review. The Review did find however that the number of contract awards increased by 26 per cent in April, which indicates the
the residential sector had a 55.6 per cent share of all construction contract awards. This meant that all remaining sectors accounted for a significantly smaller share of contract awards this in April, with infrastructure the second largest sector with a 14.3 per cent share. The third largest sector was industrial, with a 12.6 per cent share. Commenting on the figures, Tom Hall, chief economist at Barbour ABI, said: “Despite a fall in value of contracts awarded in April, it is encouraging to see a significant increase in number of projects awarded. Annual comparisons show that the number of contract awards for April 2019 is at the same level as April 2018. So far, 2019 has seen contract awards maintain a somewhat steady level between £5.2bn and £5.4bn, demonstrating the potential for steady underlying output growth for the rest of the year.”
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