Essential contract awards and project-starts continued to say no however a excessive worth of detailed planning approvals ought to increase the sector transferring into the second half of 2022.
Totalling £1,306 million, industrial work beginning on-site in the course of the second quarter of 2022 fell 42% in opposition to the previous quarter to face one-third decrease than a 12 months in the past.
Underlying industrial work beginning on-site (lower than £100 million in worth) weakened by 36% in opposition to the previous quarter on a seasonally adjusted (SA) foundation in addition to by 1 / 4 in contrast with the earlier 12 months to complete £1,048 million.
Whereas main project-starts (over £100 million) had been up on the previous quarter, the worth remained 55% decrease than a 12 months in the past.
Including as much as £1,048 million, industrial primary contract awards decreased 30% in opposition to the previous quarter and the earlier 12 months.
Underlying contract awards fell 13% (SA) in opposition to the previous quarter and by a 3rd in opposition to the earlier 12 months to complete £822 million.
Main contract awards, including as much as £226 million, skilled declines of 10% in opposition to the previous quarter and 6% in opposition to the earlier 12 months to complete £226 million.
Including as much as £2,917 million, the worth of business detailed planning approvals elevated 10% in opposition to the previous quarter however declined 6% in opposition to the earlier 12 months.
Whereas underlying mission approvals elevated 1% in opposition to the previous three-month interval (SA), the worth decreased 7% in contrast with a 12 months in the past to complete £2,318 million.
Main mission approvals, at £600 million, elevated considerably (71%) in opposition to the earlier quarter however remained barely down (-3%) on the earlier 12 months.
