May construction contracts decline in N.H.
Construction contracts for New Hampshire were down 12 percent in May 2006 from May 2005, according to a monthly report released by McGraw-Hill Construction. Year-to-date numbers are down by a cumulative total of 18 percent, the data show. The decline in nonresidential construction contracts - which includes commercial, manufacturing, educational, recreational, hotel, dormitory or other buildings - experienced the greatest decline, down 40 percent from approximately $116.2 million in May 2005 to approximately $69.6 million for May 2006, according to the report. Residential contract totals declined by 27 percent. May 2006 saw $111.6 million in residential contracts, compared to $153.1 million in May 2005, the report said. There was a 22 percent decline in nonresidential building contracts in May, falling from $396 million in May 2005 to $310.2 million in May 2006. Residential contracts were down by 24 percent, from $600 million in May of 2005 to $458.3 in May of 2006. - TRACIE STONE