Figures released 23 October reveal that Scotland accounted for nearly a quarter of the total value of new construction contracts awarded in September, particularly in the medical & healthcare and infrastructure sectors.
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 new construction contracts awarded in Scotland totalled circa £1 billion in September, accounting for 21 per cent of the total UK-wide.
The report also shows that Scotland accounted for nearly two thirds (59 per cent) of the total value of medical & healthcare contracts awarded, as well as more than half (53 per cent) of contracts awarded in the infrastructure sector.
Michael Dall, lead economist at Barbour ABI, commented:
“Following our report in July, which showed that more than £769 million had been invested in construction contracts to get Glasgow in shape for its summer of sport, today’s figures represent yet more good news for Scottish construction.”
“Contributing to this growth is a number of big ticket projects awarded in Scotland last month, including a new bypass to the west of Aberdeen worth £400 million, a £300 million on-shore wind farm based in the Highlands and a new 350-bed hospital at Dumfries and Galloway Royal Infirmary valued at £200 million.”
“Looking ahead, Scotland should continue to benefit from construction activity in these sectors, with nearly £10 billion committed to health and social care investment in the National Infrastructure Plan 2012, as well as £730 million set aside for vital transport infrastructure projects.”
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.