Construction in March gains momentum after a slow start to the year
Published: 26 April, 2016
After a subdued start for construction in 2016, the industry picked up the pace in March with £6.1 billion worth of construction contracts delivered. This is the highest of the year to date, particularly influenced by the continued strength of the residential sector.
According to the latest Economic & Construction Market Review from industry analysts Barbour ABI, total construction contract value figures for March were almost 10% higher than in February. Alongside the improving figures, residential construction contract values were worth £1.9 billion in March, 31% of the total amount of contracts for the month.
Michael Dall, lead economist at Barbour ABI, said: “It’s encouraging to see the industry pick up the pace after a lacklustre start to the year. Housebuilding once again continues to storm ahead in the industry, as housebuilders continue to try to keep pace with the demand and appetite for new housing.”
“With both the commercial & retail and infrastructure sectors increasing their levels of activity in March, it would be good to see this continue and take some of the pressure away from private housing, which has been the only sector that has continually grown and at times propped up the industry in recent years.”