{"id":90193,"date":"2021-03-11T11:48:26","date_gmt":"2021-03-11T11:48:26","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=90193"},"modified":"2021-03-11T11:48:26","modified_gmt":"2021-03-11T11:48:26","slug":"construction-contracts-february","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/construction-contracts-february\/90193\/","title":{"rendered":"Construction contract awards rise by 11% in February"},"content":{"rendered":"

Construction contract awards increased by 11% in February to \u00a34.7bn, but this still remains below average<\/h2>\n

Underlying activity in the construction industry has increased, but no single project was valued over \u00a3200m.<\/p>\n

Similarly to January<\/a>, distribution centres make up two of the top four construction contract awards.<\/p>\n

Sector analysis<\/h3>\n

The residential sector strengthened in February to \u00a31.9bn with strong activity in the West Midlands.<\/p>\n

Infrastructure also picked up, rising \u00a378% to \u00a3900m following a disappointing January.<\/p>\n

The largest infrastructure projects<\/a> are the National Grid LNG<\/a> terminal expansion in Kent and the M25 Junction 28 improvements in Essex.<\/p>\n

The industrial sector, led by warehousing, continued as the hottest sector, with two of the top four projects being distribution centres: a distribution hub in Wakefield worth \u00a3186m and a Lidl distribution centre in Bedfordshire with a value of \u00a3100m.<\/p>\n

\"\"<\/p>\n

‘Planning approvals look fragile’<\/h3>\n

Tom Hall, chief economist at Barbour ABI<\/a> and AMA Research, said: \u201cThere was not a huge amount to see in February as planning activity was maintained; no pre-budget optimism<\/a> to be seen.<\/p>\n

\u201cContract awards strengthened slightly while planning applications and approvals weakened. Approvals particularly are looking fragile.<\/p>\n

\u201cElsewhere the significant activity in warehousing and distribution continued, and infrastructure contract awards returned to previous levels after a weak January.\u201d<\/p>\n

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

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