Project Data 2017Q2

Value of construction projects awarded fell by 31 percent y-y in Q2 2017

The total nominal value of construction projects awarded fell by 31 percent y-y in the 2^nd quarter of 2017, following negative double digit year on year growth during the months of April (-47.5 percent), May (-16.6 percent) and June (-19.3 percent).  Awards deteriorated for both the building and civils sectors down 31 percent and 29 percent respectively.  Conditions in the 2^nd quarter turned for the worse after recording positive year on year growth in the 1^st quarter of 25 percent, with a 34 percent increase in the value of civil awards and 18 percent in the value of building contracts awarded.