Retail construction at its highest in two years

The value of commercial and retail construction contracts awarded in October 2014 reached its highest level in two years.

Barbour ABI, which is a chosen provider of construction data to the Office for National Statistics (ONS) and the Government, has published its latest Economic & Construction Market Review revealing that the value of commercial and retail construction contracts totalled more than £1.2 billion in October based on a three month rolling average, a 15.9% increase on September and 74.7% higher than October 2013.

The report also shows that the sector accounted for 16% of the total value of all construction contracts UK-wide, with 25.3% of these awarded in London.

Michael Dall, lead economist at Barbour ABI, commented: “The value of construction contracts awarded in the commercial and retail sector in October rose to its highest level since 2012, which is hugely encouraging for the wider industry.”

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