Value and tender opportunities also significantly below average
The number and value of contracts awarded during May has plummeted.
According to the latest data from the Builders Conference, the amount of contracts awarded each month averaged 608 between May 2019 and March this year – before the coronavirus pandemic sent the UK into lockdown.
But this number plummeted to 524 in April and just 359 a month later. This is 41% below the average and a decrease of 52% compared to May last year.
Of the contracts awarded last month, 261 jobs, worth £2.4bn, were handed out by the private sector, while 98 contracts worth £1.5bn were awarded by the public sector.
The value of the contracts awarded in May also spiralled downwards, falling to £3.9bn.
This is 35% lower than the monthly average of £6bn between May 2019 and March 2020 and 24% below May 2019. In all, 10 companies secured more than £100m of new contract awards during the month.
Almost half of all the contracts awarded, or 171 jobs worth £1.8bn, were housing projects. Roads, a subsection of infrastructure, contributed almost £900m.
There was a slight increase in the number of tender opportunities available in May, compared to April with the number of projects open for tender increasing by 16% to 312 last month.
But this is still 55% below the monthly average of 689 projects available for tender between May 2019 and March 2020 and 66% lower than last May.
It also revealed there were just 156 tender opportunities available until the end of this August.