Future construction contracts down in N.H.
Contracts for future residential and nonbuilding construction in New Hampshire continued to decline in July as compared to the same period a year ago.
But, according to a report released by construction industry publisher McGraw Hill Construction of Lexington, Mass., while contracts for future residential construction fell 25 percent, to $92.2 million, in July 2006 — compared to $123 million in July 2005 — contracts for future nonresidential construction increased by 20 percent, rising from $61.6 million in July 2005 to $74 million in July 2006.
Contracts for future nonbuilding construction – including streets, highways and bridges – declined by 25 percent, from $43.4 million in July 2005 to $32.6 million in July 2006, McGraw Hill reported.
Taken in total, July’s numbers indicate a 13 percent decline in combined future construction contracts in the state, from $228 million in July 2005 to $199 million in July 2006.
Year-to-date cumulative totals indicate a 17 percent decline in future construction contracts, to $1.4 billion from 2005’s year-to-date total of nearly $1.7 billion.
Residential contracts saw the greatest decline, falling 23 percent to $662.5 million, from $865.5 million.
Future contracts for nonresidential construction are down by 14 percent, from $549.2 million in 2005 to $469.8 million.
Despite July’s decline in nonbuilding construction, this is the only area that is increasing for the year so far. To date, nonbuilding construction has increased 3 percent to $250.0 million, up from last year’s total of $242.1 million. – TRACIE STONE