Future construction contracts down in N.H.
Contracts for future nonresidential construction in New Hampshire rose 3 percent in June, to some $94 million, but future residential contracts declined by 15 percent, to more than $120 million, according to McGraw Hill Construction.
The Lexington, Mass.-based firm said contracts for future nonbuilding construction, which includes everything from streets, highways, bridges and dams, to airports, water supply systems and utilities, totaled $58.4 million for the month, down 8 percent from $63.1 of the previous month.
Year-to-date cumulative totals indicate a 17 percent decline in future construction contracts to $1.2 billion from 2005’s year-to-date total of nearly $1.4 billion.
Residential contracts saw the greatest decline of 23 percent to $569.2 million, from $742.5 million.
Future contracts for nonresidential construction are down by 19 percent from $487.6 million to $394.3 million.
The only increase for the year so far has been seen in nonbuilding construction contracts, which have increased by 11 percent to $220.3 million, up from last year’s total of $198.8 million. – TRACIE STONE