Figures recently released reveal that the value of commercial and retail construction contracts awarded in October reached its highest level in two years.
Barbour ABI – which provides construction data to the Office for National Statistics (ONS) and the Government – has published its latest Economic & Construction Market Review revealing that the value of construction contracts in the sector totalled more than £1.2 billion in October based on a three month rolling average, a 15.9 per cent increase on September and 74.7 per cent higher than October 2013.
The report also shows that the sector accounted for 16 per cent of the total value of all construction contracts UK-wide, with more than a quarter (25.3 per cent) of these awarded in London.