Untangling the different construction measures
The value of Work Done (also known as value Put-In-Place) is the total money paid to construction companies for activity they have undertaken. This is the key indicator used in Oxford Economics’ Construction Services. It most closely relates to construction businesses’ turnover, and as such cleanly maps into budgeting/planning exercises. Furthermore, for businesses involved in the sector’s supply chain, they can easily identify when and where construction firms will need their inputs.
You will learn the difference between the value of Work Done and Construction Gloss Value Added (GVA):
- The value of Work Done (also known as value Put-In-Place) is the total money paid to construction companies for activity they have undertaken. This is the key indicator used in Oxford Economics’ Construction Services.
- Construction Gloss Value Added (GVA) is the contribution of the construction sector to national GDP.
- Briefings of the backgrounds of both measures
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