The construction industry has remained unaffected by the decision to leave the EU, according to a report from Barbour ABI.
Despite data from the Office of National Statistics (ONS) indicating a 2.1% decline between April and May this year, the July edition of Barbour ABI’s Economic and Construction Market Review revealed that total contract values in June reached £6.2 billion.
This is the highest monthly figure in 2016 so far and is also a 2.4% increase on May. It also matched the value recorded in June last year.
The number of construction projects in June increased by 11% on the previous month and was up 4.6% on the same period a year ago.
London accounted for the majority of contracts awarded, with 24% of the UK total. This was followed by Scotland with 14%.
The main reason for London’s figures was the award to develop Bechtel House, Hammersmith, valued at £275 million, and the first phase of the Royal Albert Dock (£100m).