For first half of 2013, future construction down 30 percent from last year
But June totals outpaced the same month last year by nearly 40 percent
In June, the value of future construction contracts in New Hampshire outpaced the same month last year by nearly 40 percent. But despite June’s strong showing, future construction contracts for the first half of the year are down almost $250 million from the same period last year.
New Hampshire future construction contracts totaled $172.5 million in June 2013, which marked a 39 percent increase from the $124.1 million that was recorded in June 2012, according to industry information service McGraw-Hill Construction, which publishes the figures each month.
June saw a big jump in nonresidential construction from the same month last year. Nonresidential contracts more than doubled in June, from $43.3 million in June 2012 to $100.2 million in June 2013.
Also experiencing a significant year-over-year boost was nonbuilding construction – for such projects as utilities, bridges, and highways – which jumped 54 percent from $12.3 million in June 2012 to $18.9 million in June 2013.
The only construction sector that dropped year over year in June was residential construction, which fell 22 percent from $68.5 million in June 2012 to $53.3 million in June 2013.
But for the year through June, future construction contracts in the state are down 30 percent from last year – from $802.4 million in the first half of 2012 to $558.3 million for the same period in 2013. And the cumulative totals buck the June trends, with overall decreases in nonresidential and nonbuilding construction, and an increase in residential construction.
Nonbuilding construction has taken the biggest year-over-year hit by far, down 77 percent for the first six months of the year. In the first half of 2012, nonbuilding projects totaled $343.4 million; in the first half of 2013, they totaled just $79.2 million.
Nonresidential construction is also down for the first half of the year, from $235.5 million through June 2012 to $213 million through June 2013.
Residential construction, meanwhile, is up 19 percent so far in 2013 – from $223.6 million in the first half of 2012 to $266.1 million in 2013.