Contract value hits a record high in July
In July 2017, there were 4,855 awards and frameworks with an aggregate value of £25Bn. The overall value was up 133% over the same month last year, while the volume was down 7%.
This is the highest monthly contract value in our database. This record was driven by £20Bn of framework agreements, accounting for 80% of the total value, compared to 32% the year before.
SME contract value also hits a record high
In July, 2,398 awards and frameworks were issued to SMEs with a total value of £4Bn, the highest month in our databse for contract value to SMEs.
Most of the recent growth in SME contract value has been in frameworks (see chart below). Stripping out these frameworks, the value of awards issued to SMEs has been flat at an average of £800M per month over the last 2 years.