UK construction sector shows high levels of growth
20 March 2017
Overall contract values for construction reached £6.4bn in February, which was a 15.4% increase on the same month in 2016.
This was the headline figure from the latest Economic & Construction Market Review from industry analyst Barbour ABI.
The survey also revealed that construction contracts in the hotel, leisure and sport sector reached £736m, driving an increase of more than 105% compared to February last year.
Contracts within the commercial and retail sector also grew by 17.5% to reach its highest level since September 2016, although the survey showed that values remain lower on average over the longer term.
Infrastructure was another sector to show a positive result, growing by 20.8% to a value of £1.48bn.
There was a fall in value for the industrial sector, however, which declined by 35% by comparison with February 2016, its lowest level since October 2014.
Further analysis also shows that larger contracts had driven the rise in growth levels in February this year, with the number of projects declining by nearly 20% year on year.
Among the examples listed by Barbour ABI were the £400m Port of Dover and £350m Trafford Park Metrolink extension.