Featured Region: North West

Underlying value of construction projects starting on site. (Excludes individual projects of more than £100 million and framework agreements).

The value of project starts is still 30% below the 2007 pre-crisis peak in the North West and 2012 presented little evidence to suggest that any change in the regions downbeat fortunes has occurred.

During 2011, the North West suffered as a weak economy combined with government austerity. There were declining values of health, education and social housing project starts, while the increase in industrial and retail building was not enough to compensate.

This split continued last year; sectors which rely on public spending declined while private sectors are, by and large, increasing albeit off a low base. We estimate the value of underlying starts was flat for 2012 as a whole. Looking ahead a modest recovery is expected in 2013 with growth subsequently strengthening in 2014.

The North West consists of the following Counties: Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside, Isle of Man.