Industry insights – July
Q2 activity falls by 21% compared to Q1 According to Glenigan, main contract awards averaged £6,030 million per month in Q2. That’s 32% down on the last quarter and 30% lower than the same period a year ago. This is the third month of lower activity levels for contract awards, confirming the new lower trajectory. […]
Office refurb projects are on the rise
Office Refurb Work There is an increase in office refurb projects, particularly in London, according to Glenigan. As companies seek to rebuild and reconfigure their business space to accommodate hybrid working, the offices sector can look forward to two years of growth. New office projects will rise by 19% next year – Glenigan’s view After […]
Project starts continue to dwindle
The value of underlying work starting on-site during the three months to June, fell 5% against the preceding three months, standing 39% lower than a year ago. The continued weakening in project-starts in Q2 is disappointing but unsurprising. Project starts are likely to continue to dwindle into the latter part of the year, mainly due […]
Industry Insights December
Every Region in England is suffering with declines in project-starts A deepening recession, continued construction materials inflation, and flat lining growth continue to hinder the industry, according to Glenigan. Unfortunately, with the Russia-Ukraine war and resulting materials, energy, and fuel price inflation, a return to pre-COVID activity levels will be delayed for some time. Every […]
Industry Insights November
November construction insights: Contract awards continue to defy expectations In this month’s industry insights, we review the latest construction data from Barbour ABI and Glenigan. October was a strong month for contract awards and the level of planning approvals remains stable for the third month. Although it has been a good month for contract awards, […]
Industry Insights September
Construction Industry Insights September 2022 The latest analysis from industry commentators shows both peaks and troughs in activity as planning applications and approvals, contract awards, and project starts are all reviewed. While the data for the third quarter is gloomy, September showed a slight improvement on August, and the decline in project-starts has begun to […]
Rising construction costs suppress project-starts
The August Glenigan index highlights a downward trend across most sector verticals. Similar to the July Glenigan index, the construction industry recovery continues to be held back by several factors. This includes the Russia-Ukraine war and global materials shortages, which are contributing towards rising construction costs. The weaker economic outlook has continued to negatively affect […]
Industry Insights August
Construction Industry Insights August 2022 Activity remains weak in the construction sector with the value of planning approvals falling. Despite the rising inflation, fragile consumer confidence and higher interest rates, July was another good month for contract awards. The value of contract awards has increased by 13% for the second month running, providing some respite […]
Industry Insights July
Construction Industry Insights July 2022 Contractions across almost all sectors and regions mean the construction industry is in a “period of decline”, the latest performance figures show. Even pockets of reasonable activity – across the North West and Northern Ireland, and within the Infrastructure sector – do little to detract from overall weak […]
Industry Insights June 2022
The construction industry is settling into a “subdued” period following 2021’s ‘post-Covid’ boom, experts suggest June’s industry insights and the latest analysis from commentators at Barbour ABI and Glenigan show ongoing fluctuation in activity. The outlook for the construction industry remains the same as it has for much of 2022, showing altogether more settled activity […]