Future construction deals increase from 2011 in N.H.
The total value of future construction contracts in September was up $28 million over last September, but down $48 million from August.
Future construction contracts activity in New Hampshire totaled $129.9 million in September — up 28 percent from the $101.2 million recorded in September 2011, but down from the $178.6 million recorded in August, according to industry information service McGraw-Hill Construction.
The increase over last September is thanks to a big jump in nonbuilding projects, which encompass infrastructure, such as bridges, roads and utilities. Nonbuilding contracts totaled $64 million in September, three times the $21.7 million recorded in September 2011.Meanwhile, the value of residential and nonresidential contracts fell from the same month the previous year. Residential building contracts totaled $42.7 million in September 2012, just a 2 percent decrease from the $43.7 million recorded in September 2011.But nonresidential construction saw a bigger year-over-year decline, falling 35 percent from $35.8 million in September 2011 to $23.2 million in September 2012.For the year through September, the total value of future construction contracts in the state is up slightly from where it was through the same period of 2011. Through the end of September, there has been $1.258 billion in future construction activity, up 4 percent from the $1.207 billion recorded through the same period last year.
Nonresidential construction has taken the biggest hit when compared to last year's totals. Nonresidential construction contracts totaled $352.8 million through the end of September 2012, a 44 percent decline from the $631.2 million recorded in the first nine months of 2011.