{"id":82726,"date":"2020-09-21T10:26:23","date_gmt":"2020-09-21T09:26:23","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=82726"},"modified":"2020-09-21T10:26:23","modified_gmt":"2020-09-21T09:26:23","slug":"contract-awards-grow-august","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/contract-awards-grow-august\/82726\/","title":{"rendered":"Construction contract awards grow by 21.2% in August"},"content":{"rendered":"

Construction contract awards have increased to \u00a34.4bn in August, up 21.2% compared to last month, showing improvements in industry conditions<\/h2>\n

The total value of construction contract awards in August 2020 was \u00a34.4bn based on a three-month rolling average. Although this is 21.2% higher than July\u2019s average<\/a>, it is a decline of 8.5% compared with August 2019.<\/p>\n

The rolling three-month average data is positive, but an examination of the raw monthly data shows that contract awards in August were 37.6% lower than for July with a value of \u00a33.9bn.<\/p>\n

However, July was particularly buoyant and the raw monthly data for August perhaps reflects a return to more stable growth levels.<\/p>\n

The august rolling average is 146.9% higher than the recent low point of \u00a31.6bn for May 2020.<\/p>\n

\"Construction
Construction activity trends from 2018-2020 show the impact of Covid-19<\/figcaption><\/figure>\n

The latest edition of the Economic & Construction Market Review<\/a> from Barbour ABI, highlights levels of construction contract values awarded across Great Britain.<\/p>\n

Residential sector leads the way<\/h3>\n

The findings indicate that the residential sector maintained the lead status in August, accounting for 37.6% of awards.<\/p>\n

Infrastructure<\/a> was the second largest sector in August with a share of 30.5% of awards.<\/p>\n

Vying for third place the education and industrial sectors accounted for 9.4% and 9.0% respective share of contract awards this month.<\/p>\n

\"\"
The percentage of types of construction projects during August 2020<\/figcaption><\/figure>\n

Yorkshire & Humberside was the leading region in August, which accounted for 23.0% of contract awards. The North West was the second largest region accruing 14.9% of awards and was followed by London which accounted for a 13.7% share of awards.<\/p>\n

Commenting on the figures, Tom Hall, chief economist at Barbour ABI and AMA Research, said: \u201cThe UK economy continued its stronger than expected recovery<\/a> in July, growing by 6.6% following June\u2019s expansion of 8.7%.<\/p>\n

\u201cThe economy has now recovered around half of the lost output between March and May. In the construction industry, contract awards returned strongly in July, but in-month awards were significantly lower in August.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

Construction contract awards have increased to \u00a34.4bn in August, up 21.2% compared to last month, showing improvements in industry 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