Monthly measure of construction orders sees big fall off in PFI health work

The value of construction contracts has stabilised at a high level despite according to a new index developed by the Construction Products Association and Barbour ABI.

The monthly Index, which measures the total value of contracts awarded in the industry, stood at 116 points in August and September benchmarked against 100 points in January 2010.

A large number of contracts in private housing and the retail sector has helped keep the Index at its five year high in September.

The Index pointed to a collapse in PFI funding, which has languished in single figures for the last seven months and has been at one point for the last four months.

Public health project funding has also declined this year, despite holding up well through the aftermath of recession in 2009 and 2010. It currently stands at 77 points.

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