|By PR Newswire||
|August 20, 2014 09:46 AM EDT||
LONDON, August 20, 2014 /PRNewswire/ --
Figures released today (20 August) reveal that education construction activity reached its highest level in two years, accounting for 15 per cent of the total value of all 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 education construction contracts totalled more than £714 million in July, a 17.4 per cent increase compared to June and 25.1 per cent higher than July last year.
The report, available to download here, also shows that London was the main region for education construction activity in July, accounting for 15.1 per cent of the total value of projects. This is largely down to the award of two big ticket contracts, one for Whitefriars Community School and the other for the expansion of Wembley High Technology College, valued at £20 million and £11 million respectively.
On the findings of the report, Michael Dall, lead economist at Barbour ABI, commented: "Education construction was boosted by further and higher education projects in July, which accounted for more than a third of contract values. State secondary schools were the other major type of project accounting for 29 per cent of contract value - an increase of 12 per cent on the corresponding month last year.
"Looking ahead, a number of measures announced by the Government in this year's Budget will impact the value of contracts awarded in the coming years, including £106 million set aside over five years to fund around 20 additional Centres for Doctoral Training, plus an additional £85 million over the next two years to extend the Apprenticeship Grant for Employers scheme."
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]