Pending construction contracts down again in N.H.

March numbers reveal continued weakness in future deals


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Judging by the value of pending contracts for construction projects in New Hampshire, 2014 has not been a pretty one so far for the industry.

According to data released by industry information service McGraw Hill Construction, the value of pending contracts through March stands at $166 million – a full 28 percent less than the $229.6 million in contracts reported through March 2013.

The weakness hasn’t hit all sectors, with a 12 percent increase in nonbuilding contracts – to $52.9 million –reported through March.

In the month of March alone, $12.3 million in contracts were reported, an increase of 90 percent over the $6.5 million reported in March 2013.

Nonbuilding projects involve roads, bridges and other infrastructure.

As for residential contracts, McGraw-Hill reports they totaled $81.5 million through March, 31 percent lower than the $117.8 million recorded through March 2013.

Contracts for nonresidential were even more dismal, standing at $31.7 million through March, down 51 percent from the $64.4 million reported a year ago.

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