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Construction project-starts remain low

February 2021

Accoring to the Glenigan Index to end of January 2021, construction project-starts remain low as national lockdown continues.  The value of underlying construction projects (under £100 million) commencing on-site during the three months to January were 21% lower than the previous year, and 19% lower than the preceding three months on a seasonally adjusted basis.

Residential project-starts fell 11% compared to a year ago and 15% against the preceding three-month period.  Non-residential project-starts experienced the greatest decline, falling by a third compared to the previous year and 21% against the preceding three months.

Infrastructure project-starts also declined 21% compared to the preceding three months, but only declined 5% against the previous year.

“The value of projects commencing on-site during the three months to January was particularly low. Only three sectors achieved growth against the previous year and only one region avoided a decline,” says Rhys Gadsby, Glenigan’s Economic Analyst.  “A nation-wide lockdown commencing in late-December and the threat of a no-deal Brexit during November and December are likely to have affected projects moving to site over the past three months. Equally, severe weather across the UK in January would have also played a part towards the end of the period.  With the national lockdown commencing in December, project-starts are likely to remain low next month.”

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