Rise in project-starts signals return of confidence for construction sector
The latest Glenigan Index of construction project-starts identifies a very welcome up-tick in construction projects moving to-site in the three months to April 2021.
The value of underlying construction work (under £100 million in value) starting on-site during the period was 30% higher than a year ago and 18% higher than the preceding three months on a seasonally adjusted basis.
Today’s newsletter dives into the detail of the three best-performing sectors and the projects that contributed to their growth.
Industrial-starts up 85%
Industrial-sector project-starts achieved the greatest growth of any sector during the three months to April, with the number of starts rising 85% against the previous year and 68% compared to the preceding three months, and even more encouragingly, 16% up on two years ago.
Infrastructure-starts up 50%
Infrastructure-sector project-starts achieved impressive growth of 50% against the same period a year ago, 68% compared to the preceding three months, and 3% compared to two years ago.
Residential-starts up 35%
Private housing project-starts performed very strongly in the three months to April 2021, climbing 61% against the previous year and 21% compared to the preceding three months.
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