Future construction deals slow in Feb.
While there was a slowdown in the value of future construction contracts reported in two of three constrtuction sectors in New Hampshire, a third -- nonresidential -- continued to shine.According to figures from industry information service McGraw-Hill Construction, there was an almost 180 percent increase in the value of future contracts for nonresidential construction projects in February. The total value was $27.4 million, more than $17 million more than the $10.2 million reported in February 2010. The increase comes on the heels of an 86 percent year-over-year jump in nonresidential contracts in January.But that was the one bright spot. The value of residential contracts fell by 54 percent from $23.8 million in February 2010 to $16.9 million in February 2011. A 29 percent drop was reported in the value of nonbuilding consruction -- roads, bridges and similar projects. In February 2011, the total was $9.0 million, more than $10 million less than the $19.7million reportred a year earlier.All told, the value of all future construction contracts through February stands at -- $183.5 million, some 46 percet higher than than the $125.9 million reported a year before. -- JEFF FEINGOLD/NEW HAMPSHIRE BUSINESS REVIEW