Future construction pace continues slide
The pace of future construction slowed dramatically in September, with double-digit drops in the number of contracts seen across all categories.
According to figures from industry information service McGraw-Hill Construction, the total value of future construction contracts reported in New Hampshire in September was $100.5 million, some 38 percent lower than the $162.3 million reported in September 2009. In August 2010, the total value of contracts was $137.6 million.
The value of future residential construction contracts reported in September was $42,.1 million, 36 percent lower than the $65.9 million reported a year earlier. A month earlier, the total was $45.2 million.
The value of nonresidential construction contracts fell by 21 percent in September, with $$38.8 million reported, compared to the $49 million reported in September 2009. In August 2010, contracts totaled $63.6 million.
Nonbuilding contracts -- for roads, bridges and similar projects -- totaled $ $19.6 million, about 59 percent lower than last September's $47.7 million. In August, the dollar value of future contracts was $28.8 million.
Thus far in 2010, a total of $1,62 billion in future construction contracts has been reported, 5 percent more than the $1.54 billion reported in the same period a year earlier. -- JEFF FEINGOLD/NEW HAMPSHIRE BUSINESS REVIEW