Big drop seen in Feb. construction deals

Contracts announced in February for future residential, nonresidential and nonbuilding construction in New Hampshire are below the level reported in February 2006, according to McGraw Hill Construction data.

The Lexington, Mass.-based firm reported that future residential construction decreased by 52 percent, to $36.2 million in February 2007, compared to $75 million in February 2006.

Some $68.8 million in future residential contracts reported for January 2007.

Contracts for future nonresidential construction decreased by 21 percent to $45.3 million in February 2007, compared to $57.7 million reported for February 2006. There were $66.6 million in future nonresidential contracts reported for January 2007.

Contracts for future nonbuilding construction, – including such projects as streets, highways and bridges – decreased by 74 percent to $4.5 million in February 2007, compared to $17 million for February 2006. There were $5.6 million in future nonbuilding construction contracts reported for January 2007.

Total construction contracts for February 2007 declined 43 percent to $86 million compared to $149.6 million reported in February 2006. Total future construction contracts for February 2006 were reported at $141 million.

Year-to-date residential contracts are down 24 percent, from the $141.2 million reported in February 2006 to $106.65 million in February 2007.

Year-to-date nonbuilding construction has decreased by 54 percent to $10.1 million in February 2007, compared to $21.75 million in February 2006.

Total year-to-date future construction contracts are 9 percent lower in February 2007 at $228.6 compared to the $250.1 million reported by February 2006. – TRACIE STONE