{"id":88113,"date":"2021-01-27T10:32:59","date_gmt":"2021-01-27T10:32:59","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=88113"},"modified":"2021-01-27T10:32:59","modified_gmt":"2021-01-27T10:32:59","slug":"construction-contract-award","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/construction-contract-award\/88113\/","title":{"rendered":"Construction contract award values fall by 5% in 2020"},"content":{"rendered":"

Construction contract award values reached \u00a357bn in 2020, only a slight decrease of 4.7% on the previous year<\/h2>\n

Despite the challenges, 2020 brought construction contract award values held steady in 2020, but the number of contract awards declined by just under 16%, according to the latest edition of the Economic & Construction Market Review from industry analysts Barbour ABI<\/a>.<\/p>\n

Certain sectors in 2020 experienced strong growth whilst others felt the impact of the Covid-19 pandemic<\/a>.<\/p>\n

The infrastructure sector contract awards in 2020 were valued at \u00a314.5bn, an increase of 40% on 2019.<\/p>\n

A large increase in utilities and civil engineering<\/a> projects contributed to the total, increasing by 61% and 54% respectively.<\/p>\n

The hotel, leisure and sport sector contract awards for 2020 was \u00a33.1bn which is a decrease of 43% compared to 2019. This was largely due to a fall in arenas and stadia, and audience and exhibition centres, falling by 68% and 63% respectively.<\/p>\n

However, most significantly the medical and healthcare sector<\/a> saw an increase of 62% in 2020 compared to 2019 with a total value of contract awards at \u00a32bn.<\/p>\n

\"Construction<\/p>\n

\u2018A complete turnaround\u2019<\/h3>\n

Commenting on the figures, Tom Hall, chief economist at Barbour ABI and AMA Research, said: \u201cThe total value of contract awards only fell by 5% in 2020, thanks to an extremely strong start to the year and a moderate recovery after the first nationwide lockdown<\/a>.<\/p>\n

\u201cIt\u2019s a complete turnaround where activity is happening compared to 2019, which was dominated by the residential and leisure sectors.<\/p>\n

\u201cIn 2020 it has been the healthcare and infrastructure sectors that maintained activity.<\/p>\n

\u201cWe expect the same over the first period of 2021, at least until the Covid-19 situation improves and the uncertainty clears.\u201d<\/p>\n

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

Construction contract award values reached \u00a357bn in 2020, only a slight decrease of 4.7% on the previous year.<\/p>\n","protected":false},"author":16,"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":[825,24813,676,54592,908,636,274,579,639],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-88113","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-barbour-abi","8":"tag-building-contracts","9":"tag-construction","10":"tag-coronavirus","11":"tag-economy","12":"tag-engineering","13":"tag-health-social-care","14":"tag-infrastructure","15":"tag-procurement"},"acf":[],"yoast_head":"\nConstruction contract award 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