Future construction contracts up in July



Published:

While once again July contracts for future residential and nonresidential construction in New Hampshire dropped were below the amount reported in July 2006, there was a sizable increase in the total value of nonbuilding projects. According to McGraw Hill Construction of Lexington, Mass., contracts for future residential construction fell 20 percent to $92 million in July 2007, compared to $114.9 million in July 2006. Contracts for future nonresidential construction decreased by 7 percent, falling to $69.5 million in July 2007, compared to the $74.4 million reported in July 2006. McGraw Hill reported that contracts for future nonbuilding construction - including such projects as streets, highways and bridges - increased by more than 350 percent to 128.1 million in Ju1y 2007, compared to $28 million in July 2006. Total future construction contracts for July 2007 increased by 33 percent to $289.5 million compared to $243.3 million reported for July 2006. Year-to-date future nonresidential construction contracts through July 2007 were $420.1 million, or 12 percent lower than the $479.2 million reported for the same period last year. Year-to-date future residential contracts totaled $587.3 million, or 11 percent below last year’s numbers of $656.4 million. Future nonbuilding construction contracts of $321.2 million up to July 2007 were 30 percent higher than the $247.2 reported for the same time period last year. In total, all future construction contracts through July 2007 were $1.3 billion, or 4 percent below the $1.4 billion reported through July 2006. - TRACIE STONE

 

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