February sees boom in commercial and retail construction

News Item
25 Mar 2015
Commercial and retail construction contracts increased by almost 70 per cent in February according to figures released by Barbour ABI .
The value of projects awarded topped £1.1bn in February which is 67.9 per cent higher than this time last year and over a third (35.4%) higher than in January 2015.

Contracts for key projects such as the Pinnacle Building in the City of London were a major contributor to the surge and led to office projects accounting for a sizeable 70 per cent of all commercial and retail contracts awarded in February. Last month also saw a marked increase in the food-retailing sector, with projects making up 19 per cent of works handed out – a 10 per cent increase on February 2014.

Barbour ABI lead economist Michael Dal said: “It’s good news that commercial and retail construction is on the up as, sector-wise, it is the second biggest contributor to the overall industry in the UK after housebuilding.

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