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£4.5bn rise in construction orders

£4.5bn rise in construction orders

Construction new orders in Q3 were boosted by another strong quarter from the infrastructure sector, contributing a value of £4.5bn, a year-on-year increase of 42%. The figures come from Barbour ABI, the chosen provider of construction new orders estimates to the Office for National Statistics which has new orders for Q3 valued at £16.1bn. In a change from the recent dominance of the residential sector, four of the five biggest construction projects in Q3 came from infrastructure, including the £1bn Thames Tideway Tunnel project and the £600m Race Bank offshore wind farm. There's also evidence of a geographical spread across all the £100m-plus infrastructure projects in Q3, with their locations extensively covered across the UK in areas such as Northumberland, Cheshire and Lincolnshire. This differs when compared to many other construction sectors, where major projects are often London-dominated. Michael Dall, lead economist at Barbour ABI, said: 'The third quarter in construction saw an increase in new order values despite the wider slowdown in growth across the UK economy. Overall, the levels of appetite for investment across construction remain strong at the contract stage. However, the problems lie more on the supply side at present, with skills shortages in particular a major challenge in moving projects from the conceptual to the delivery phase.'

 

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