Future construction pace quickens

The pace of future construction picked up in October, with increases in all categories. According to figures from industry information service McGraw-Hill Construction, the total value of future construction contracts reported in New Hampshire in October was $234.2 million, a healthy 24 percent more than the $188.1 million recorded in October 2009 and more than twice as much as the $100.5 million recorded in September 2010. The value of nonbuilding contracts — for roads, bridges and similar projects — jumped 80 percent to $84.6 million, from the October 2009 total of $47 million. Future residential construction contracts reported in October totaled $56.4 million, 15 percent higher than the $49 million in contracts reported a year earlier. The value of nonresidential construction contracts increased by 1 percent in October to $93.2 million from the $92.7 million reported a year earlier. Thus far in 2010, a total of $1,85 billion in future construction contracts has been reported, 7 percent more than the $1.73 billion reported in the same period a year earlier. — JEFF FEINGOLD/NEW HAMPSHIRE BUSINESS REVIEW