{"id":85608,"date":"2020-11-20T12:37:03","date_gmt":"2020-11-20T12:37:03","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=85608"},"modified":"2020-11-20T12:37:03","modified_gmt":"2020-11-20T12:37:03","slug":"october-contract-awards","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/october-contract-awards\/85608\/","title":{"rendered":"October contract awards\u00a0down 9.4% but activity remains strong"},"content":{"rendered":"

The total value of construction contract awards in October 2020 was \u00a34.9bn based on a three-month rolling average, according to\u00a0Barbour ABI<\/a>\u2019s Economic & Construction Market Review<\/h2>\n

This is a decrease of 9.4% on September figures<\/a> and follows three consecutive months of good growth. Annual comparisons show it as 1.1% lower than for October 2019.<\/p>\n

In the three months to October 2020, total contract awards<\/a> were valued at \u00a314.7bn which is 75.7% higher than for the previous quarter<\/a> and is also 1.3% higher than for the comparable quarter ending October 2019.<\/p>\n

\"\"<\/p>\n

There was an increase of 8.7% for contract award numbers this month at 871 compared to September.<\/p>\n

Annual comparisons show marginal (0.8%) improvement.<\/p>\n

The North West was the leading region in October with 19.8% of awards and a total of 120 projects.<\/p>\n

\"\"The second largest region was London with value share of 13.8%, whilst tying for third place was the East of England and Scotland both with 11.1% of awards.<\/p>\n

Analysis by sector indicates that residential maintained lead status in October accounting for 36.8% of awards. Underpinned by some major civils awards, infrastructure was the second largest region this month with 22.2% of awards and 131 projects.<\/p>\n

 <\/p>\n

An encouraging outlook<\/h3>\n

Tom Hall, chief economist at Barbour ABI and AMA Research said: \u201cThe value of contract awards decreased<\/a> from \u00a35.4bn in September to \u00a34.9bn in October but the number of awards continued to increase month on month.<\/p>\n

\u201cIt is encouraging that since coming out of the first UK-wide lockdown, contract awards remain at long-term average levels.<\/p>\n

\u201cWhile there remain many downside risks, more positive news has emerged over the last month, not least construction sites staying open over the second lockdown plus positive vaccine trials.<\/p>\n

“We therefore have a greater level of confidence that activity will be maintained over the short term.”<\/p>\n

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

The total value of construction contract awards in October 2020 was \u00a34.9bn based on a three-month rolling average, according to\u00a0Barbour ABI\u2019s Economic & Construction Market Review.<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[825,13038,24813,676,54592,283],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-85608","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-barbour-abi","8":"tag-building","9":"tag-building-contracts","10":"tag-construction","11":"tag-coronavirus","12":"tag-finance"},"acf":[],"yoast_head":"\nOctober contract awards\u00a0down 9.4% 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