Future construction in N.H. drops 33% in May

The total value of future construction contracts reported in New Hampshire for May 2011 fell to $137.3 million, a drop of 33 percent from the $204.7 million recorded in May 2010.Figures provided by industry information service McGraw-Hill Construction reveal future nonbuilding construction projects, including roads and bridges, fell 20 percent from last May’s $44.6 million to $35.7 million this May. The most drastic drop was in future nonresidential construction projects — $61.6 million, from the $113.9 million, a drop of 46 percent.The only reported increase was in future nonresidential construction projects, which total $336.2 million, up 12 percent from the $301.3 million reported last year at the same time. Through May, the value of all future construction contracts in New Hampshire totaled $630.8 million, down 4 percent from last year’s $657.6 million. – NATALIE GLISSON/NEW HAMPSHIRE BUSINESS REVIEW