Future construction contracts continue decline

A decline in residential and nonbuilding construction in New Hampshire continues, according to newly released data from McGraw Hill Construction.

The Lexington, Mass.-based firm said that contracts for future residential construction were down 26 percent, to $96.5 million, in August 2006, compared to $130 million in August 2005. But the firm said contracts for future nonresidential construction increased by 19 percent, from $60.4 million in August 2005 to $71.6 million in August 2006.

Contracts for future nonbuilding construction – including such projects as streets, highways and bridges – declined by 32 percent, from $48.7 million in August 2005 to $33 million in August 2006, McGraw-Hill said.

Together, August’s numbers indicate a 16 percent decline in combined future construction contracts in the state, from $239.5 million in August 2005 to $201.2 million in August 2006.

Year-to-date cumulative totals indicate a 17 percent decline in future construction contracts, to $1.6 billion from 2005’s year-to-date total of nearly $1.9 billion.

Residential contracts saw the greatest decline — 24 percent — to $760 million, from $996 million.

Year-to-date, future contracts for nonresidential construction are down by 11 percent from $609.6 million in 2005 to $540.2 million, McGraw-Hill reported.

Nonbuilding construction also saw a decline in August – down 3 percent to $283 million from $291 million in 2005. – TRACIE STONE