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News Value of UK construction activity rises to Euro27.5bn in first quarter of 2022

Value of UK construction activity rises to Euro27.5bn in first quarter of 2022

Written by Global Cement staff 19 April 2022
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UK: UK construction recorded its highest ever quarterly total value at Euro27.5bn in the first quarter of 2022. Participants in the industry agreed Euro10.4bn-worth of construction contracts in March 2022. Analyst Barbour ABI has reported that residential construction contracts rose by 50% month-on-month to Euro4.22bn, their highest level since the Covid-19 outbreak arrived in the UK in March 2020. Chief economist Tom Hall noted a year-on-year and month-on-month increase in office construction activity as indicative of a reversal of the home-working trend of the past two years.

Hall said “While the current state of the industry is positive with lots of activity and record-breaking levels of contracts awards and planning approvals in some areas, the horizon is more concerning. Overall, the level of planning applications received in March was low and raises questions about the delivery of the government’s commitment to raise the standard of healthcare across the country and its flagship levelling up agenda.”

Last modified on 20 April 2022
Published in Global Cement News
Tagged under
  • UK
  • market
  • growth
  • Outlook
  • Forecast
  • Contract
  • value
  • coronavirus
  • planning
  • Government
  • economy
  • Workers
  • homebuilding
  • construction
  • demand
  • GCW553
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