FY2020 contracting expected to hit record $645B; $174B in 4thQ

4thQ especially significant for small business: GovWin

     Federal government contracting awards are forecasted to hit a record $645 billion this fiscal year, a 10% increase over last year’s all-time high of $585 billion, according to an analysis by GovWin by Deltek.

      The fiscal 2020 total is expected to have a significant bump estimated at about $40 billion from COVID-19-related procurements, Carey Webster, senior director of research for Deltek, said in a recent webinar.

      A huge boost also is anticipated from record appropriations for defense and civilian agencies, she said.

      While Fourth Quarter contract spending is typically 32.2% of the total for the year, based on a five-year average, GovWin adjusted that percentage downward to 26.7% for fiscal 2020 for several reasons: ...more....