Value of the Construction Industry Rockets by 67 per cent in 12 Months

Value of the Construction IndustryValue of the Construction Industry Rockets by 67 per cent in 12 Months PR Newswire LONDON, January 23, 2014 • The value of new construction contracts awarded in December 2013 is valued at £6bn, a 67.1 per cent increase on December 2012 • Infrastructure projects were accountable for 36 per cent of the total contract value and data suggests this sector will continue to grow throughout 2014 • These figures are "a reflection of an exciting year for the construction industry" marking a significant period of sustained growth in activity in the UK, according to economists. The value of construction projects in the UK has rocketed by 67.1 per cent in the last year, according to a report published today. New project contracts awarded in December 2013 totalled £6 billion, compared to £3.6 bn in the same month in 2012. The infrastructure sector proved to be an area of significant growth last month, with the total value of projects awarded reaching £2.2 billion, a 10.6 per cent increase from November 2013 and a huge 101.6 per cent year-on- year growth. These latest figures, taken from Barbour ABI's Economic & Construction Market Review, also highlight sustained growth in the residential construction sector, which continues to be boosted by initiatives such as the Government's Help to Buy scheme. The total contract value for December in this sector grew by 88.2 per cent year-on-year.