Brighter Spots for Construction Appear
Posted by Glenigan on 9th June 2022 -
The mixed economic outlook and the fall-out from the Ukraine war have inevitably slowed the pace of recovery across the industry.
Yet the latest Glenigan Construction Review shows that main contract awards and detailed planning approvals did register an increase in the three months to April on the previous three months, even if they did not match last year’s levels.
The Review also points to some encouraging trends which highlight those construction sectors and regions which are maintaining momentum and where new work opportunities are available.
New activity based on the value of project starts in the offices, private residential and retail sectors all improved in the quarter to April on the previous three months and hotel & leisure work was well ahead of the period a year ago.
Across the UK regions, the North East, West Midlands and Northern Ireland all saw notable increases in the value of project starts in the quarter to April, compared to the previous three months.
Better times could also be on the horizon for contractors tendering for work on major projects. In the three months to April, major project planning approvals recorded a sharp 26% rise on the previous quarter and stand 15% up on the period in last year.
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