The total value of construction contracts appears to have fallen in the month of June this year however construction industry data company Barbour ABI has suggest the industry should remain optimistic about the long term future.
Barbour ABI supplies data to the construction sector as well as national bodies such as the Office for National Statistics and The Treasury and their latest Economic and Construction Market Review suggests the value of new construction contracts in June was £5.3 billion which represents a decrease of 0.7% when compared to May this year.

Interestingly, construction was around 10.5 percent higher than it was in June 2013 demonstrating the growth and strength in the construction market.


On the prospects for the construction industry, Barbour's Chief Economist Michael Dall commented: “We are confident that it is a picture of moderate growth but perhaps not the booming rates that the financial markets seem to be expecting."


We’ve seen a growth in the sales of construction products over the last few months as the recovery takes hold. This is something that doesn’t seem to have been affected by the apparent slowdown in the number of contracts awarded in June (although admittedly there could be a time delay), and most of the contractors we speak to seem to be saying their order books are full and their businesses are in rude health.


Crucial to maintaining a steady recovery is making sure confidence remains in the market. There will be little setbacks to that recovery and we can’t always jump when month on month figures appear to show a slight decline. More important is to consider the industry in the round and make decisions based on the business you’ve got and the business that’s in the pipeline.