The total value of construction contract awards in October 2020 was £4.9 billion based on a three-month rolling average. This is a decrease of 9.4% on September and follows three consecutive months of good growth. Annual comparisons show it as 1.1% lower than for October 2019.
In the three months to October 2020, total contract awards were valued at £14.7 billion which is 75.7% higher than for the previous quarter and is also 1.3% higher than for the comparable quarter ending October 2019. There was an increase of 8.7% for contract award numbers this month at 871 compared to September. Annual comparisons show marginal (0.8%) improvement.
The Economic & Construction Market Review from Barbour ABI, highlights levels of construction contract values awarded across Great Britain.
The North West was the leading region in October with 19.8% of awards and a total of 120 projects. 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.
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.