Future-construction gauge mixed in May
Contracts for future nonresidential and nonbuilding construction projects in New Hampshire continued to fall in May.
Contracts for future residential construction, however, increased when compared to the same time period 2006.
May 2007 contracts for future nonresidential construction decreased by 32 percent, to $46.7 million, from the $68.7 million reported for May 2006.
Contracts for future nonbuilding construction – including such projects as streets, highways and bridges – fell 42 percent to $46.2 million in May 2007, compared to $80 million for May 2006.
Contracts for future residential construction, however, increased 33 percent to $137.3 million in May 2007, compared to $103.5 million in May 2006.
Total future construction contracts for May 2007 declined by 9 percent, to $230.1, million compared to $252.1 million reported for May 2006.
Year-to-date future nonresidential construction contracts through May 2007 stood at $277 million, or 12 percent lower than the $314.3 million reported for the same time period last year.
Year-to-date future residential contracts were $397 million, or 12 percent below last year’s $449 million.
Future nonbuilding construction contracts of $154.1 million were 3 percent lower than the $159 million reported for the same time period last year.
Total future construction contracts through May 2007 were $828 million, down 10 percent from the $922 million reported through May 2006. – TRACIE STONE