2011 future construction deals remain listless

Future construction contracts totaled $1.37 billion in New Hampshire through the end of November, down 28 percent and almost $600 million lower than the $1.92 billion recorded at the same time last year.That’s according to industry information service McGraw-Hill Construction, which collects and reports the data each month. The total value of future contracts is down from last year in all the construction sectors it tracks — nonresidential, residential and nonbuilding.The largest drop year over year has been in future nonbuilding construction, which includes roads, bridges, highways and similar projects. Through the end of November, future nonbuilding construction totaled $287.1 million, down 55 percent from the $643.4 million recorded the same time last year.Some of that year-over-year discrepancy may be attributable to the drying up of federal stimulus funds for construction projects.Also down from last year are future nonresidential and residential contracts, though their values haven’t decreased as severely.Both were 15 percent behind where they were last year. Through this November, future nonresidential contracts totaled $668.9 million, down from $782.7 million through November 2010; and future residential contracts totaled $416.2 million, down from $491.7 million through November 2010.Even though there is a considerable lag over last year, construction contracts in November of this year stayed pretty much on par with last November.The value of future construction contracts totaled $94.9 million this November, up very slightly from the $94.7 million in November 2010.Nonresidential and residential contracts were up in November over the same month the previous year — 21 percent and 9 percent, respectively — but nonbuilding contracts fell 37 percent month over month. — KATHLEEN CALLAHAN/NEW HAMPSHIRE BUSINESS REVIEW