LONDON, June 20, 2014 /PRNewswire/ --
New figures released today reveal that the South East accounted for nearly a quarter of the total value of UK education construction contracts in May.
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 in the South East totalled more than £141 million in May, based on a three-month rolling average. This accounts for 22.2 per cent of the overall contracts awarded for the sector UK-wide, an increase of 4.3 per cent on the same month last year.
The report, available to download here, makes interesting reading for the education sector in the UK. The value of projects in May, totalling £636 million based on a three-month rolling average, is up 12.9 per cent on April and 13.6 per cent higher than May 2013.
On the findings of the report, Michael Dall, lead economist at Barbour ABI, commented: "Once again the South East region has come out on top for education construction contracts in the UK, largely attributable to a number of large university contracts. The region regularly outperforms the rest of the country in terms of the volume and value of its projects.
"Colleges and universities accounted for the highest proportion of contracts awarded in the education sector in May, accounting for 35 per cent of the total value awarded. State primary schools were the other major type of project this month, accounting for 25 per cent of contract values.
"This year's Budget unveiled a number of measures that will boost education construction over the coming years, including £106 million over five years to fund around 20 additional Centres for Doctoral Training, plus an additional £85 million 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.
SOURCE Barbour ABI