Future construction pace slows in August

The pace of future construction contracts slowed in August after two consecutive months of impressive increases.According to figures from industry information service McGraw-Hill Construction, the total value of future construction contracts in New Hampshire was $137.6 million, 5 percent lower than the $144.9 million in contracts reported in August 2009. The total in July 2010 was $546.5 million — almost four times the total of August 2010.The value of future residential construction contracts was $45.2 million, 3 percent lower than last August’s $46.7 million. In July 2010, the value of future residential construction contracts was some $40.4 million.Nonbuilding contracts — for roads, bridges and similar projects — totaled $28.8 million, about 39 percent lower than last year’s $47.2 million and some $270 million less than the July total of $299.4 million.The value of nonresidential construction contracts did rise in August, with $63.6 million reported, some 25 percent more than the $50.9 reported a year earlier. In, the value of future nonresidential construction contracts was about $206.6 million.Thus far in 2010, a total of $1.52 billion in future construction contracts has been reported — 10 percent higher than a year ago. — JEFF FEINGOLD/NEW HAMPSHIRE BUSINESS REVIEW