Post-pandemic construction industry recovery
The volume of contracts signed in April indicates a brighter future for construction industry, while project starts are still below pre-pandemic levels, the past few months have seen a strong rise, the development pipeline is now ahead of 2019 levels, pointing to the prospect of a recovery in starts over the coming months.
The fastest growth was in large projects, starts among these larger jobs has increased by 23% over the previous three months and by 69% over the same period last year.
Compared with the previous three months, the value of contracts awarded has increased by 36%, an increase of 50% over the same period last year, and an increase of 12% over the same period in 2019. Major contract awards of more than £100M increased by 44% in the three months to April, which is 97% higher than the level a year ago.
Underlying contract awards increased by 34% on the preceding three months to stand 38% higher than a year ago.
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