Home Business NewsBusiness Contract awards hit £4.9 billion

Contract awards hit £4.9 billion

by LLB Editor
18th Dec 20 8:59 am

The total value of construction contract awards in November 2020 was £4.9 billion based on a three-month rolling average. This is a marginal (0.2%) increase on October but is 9.1% lower than for November 2019.

Contract award numbers decreased by 17.9% this month to 715 compared with 871 in October. Annual comparisons show a 16.4% decrease compared to 855 contract awards for November 2019.

The latest edition of the Economic & Construction Market Review from industry analysts Barbour ABI, highlights levels of construction contract values awarded across Great Britain.

In November, London was the leading region with 16.8% of awards and a total of 77 projects. The North West was only slightly behind accounting for a share of 16.3% of awards and a total of 98 projects. The third largest region this month was the South East with 13.9% of awards.

Analysis by sector indicates that residential maintained lead status in November accounting for 38.9% of awards. With 19.1% of awards, infrastructure was the second largest sector this month whilst in third place commercial & retail held share of 16.3%.

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