|By PR Newswire||
|August 20, 2014 09:47 AM EDT||
LONDON, August 20, 2014 /PRNewswire/ --
Figures released today (20 August) reveal that the East of England accounted for nearly half of the total value of industrial construction contracts in July.
Barbour ABI, which supplies construction data to the Office for National Statistics (ONS), Cabinet Office and Treasury, has published its latest Economic & Construction Market Review, which shows that the value of industrial construction contracts across the East of England totalled more than £180 million in July. This accounts for 44.4 per cent of the overall contracts awarded for the sector UK-wide, an increase of 40.2 per cent on July 2013.
The report, available to download here, also shows that the region accounted for 11 per cent of the total value of construction contracts awarded across all sectors in July, hot on the heels of London and the South East with 15 per cent each and the North West with 12 per cent.
On the findings of the report, Michael Dall, lead economist at Barbour ABI, commented: "Industrial construction activity in July was at its highest since Christmas, and the East of England was right at the forefront of this growth. This is largely down to the award of a £140 million contract for the 240-acre Gateway Park Distribution Park in Peterborough, which is set to bring more than 8,000 jobs to the local area.
"Warehouse and storage projects were the most predominant in the industrial sector last month, accounting for 58 per cent of contract value in July, and this doesn't look set to change as long as sites such as the one in Peterborough are still ripe for development."
The Economic & Construction Market Review is a monthly report designed to give valuable insight into UK construction industry performance. It is compiled from Barbour ABI's records of construction data for every UK planning application, and key indicators, such as the Office for National Statistics' Construction New Orders data.
About Barbour ABI:
Barbour ABI is a leading provider of construction intelligence services. With a team of in-house research specialists and a dedicated lead economist, it provides commercially relevant insight and unique analysis of trends and developments within the building and construction industry.
Barbour ABI is the chosen provider of industry data and indicators for Government bodies including the Office for National Statistics and the UK Government's Construction and Infrastructure Pipeline, which outlines future construction and infrastructure projects where public funding is agreed. Barbour ABI also provides data for independent organisations, such as the Construction Products Association.
Barbour ABI is part of global events-led marketing services and communications company, UBM, and is headquartered in Cheshire Oaks, Cheshire.
UBM helps businesses do business, bringing the world's buyers and sellers together at events and online, as well as producing and distributing news and specialist content. Its 5,500 staff in more than 30 countries are organised into expert teams which serve commercial and professional communities, helping them to do business and their markets to work effectively and efficiently.
Notes to editors:
Press enquiries to:
Jonathan Touhey at Barbour ABI
e: [email protected]
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