Main contract awards and project-starts continued to decline but a high value of detailed planning approvals should boost the sector moving into the second half of 2022.
Totalling £1,306 million, industrial work starting on-site during the second quarter of 2022 fell 42% against the preceding quarter to stand one-third lower than a year ago.
Underlying industrial work starting on-site (less than £100 million in value) weakened by 36% against the preceding quarter on a seasonally adjusted (SA) basis as well as by a quarter compared with the previous year to total £1,048 million.
While major project-starts (over £100 million) were up on the preceding quarter, the value remained 55% lower than a year ago.
Adding up to £1,048 million, industrial main contract awards decreased 30% against the preceding quarter and the previous year.
Underlying contract awards fell 13% (SA) against the preceding quarter and by a third against the previous year to total £822 million.
Major contract awards, adding up to £226 million, experienced declines of 10% against the preceding quarter and 6% against the previous year to total £226 million.
Adding up to £2,917 million, the value of industrial detailed planning approvals increased 10% against the preceding quarter but declined 6% against the previous year.
While underlying project approvals increased 1% against the preceding three-month period (SA), the value decreased 7% compared with a year ago to total £2,318 million.
Major project approvals, at £600 million, increased significantly (71%) against the previous quarter but remained slightly down (-3%) on the previous year.