Future construction pace slows in Dec.
The total value of construction projects scheduled to be built in New Hampshire remained on a downward slide as 2010 closed out.According to figures from industry information service McGraw-Hill Construction, there was a 17 percent drop in the value of all future construction in December 2010 when compared with a year earlier, In December 2010, total projects were valued at $79.4 million as opposed to $84.7 million in December 2009.The value of nonbuilding projects — roads, bridges and similar jobs — was down 29 percent, falling from $23.4 million in December 2009 to $16.7 million in December 2010.The nonresidential sector fared even worse, with a 53 percent drop from December 2009’s $19.6 million to $9.2 million in December 2010.The one bright spot was in the residential sector, with $44.5 million in future project reported in December 2010, 7 percent higher than the $41.6 million reported a month earlier.Despite the disappointing close to the year — similar falloffs were reported in November 2010 as well — the value of future contracts totaled $2 billion for the entire year, 4 percent more than the $1.93 billion reported in 2009. The value of nonresidential construction projects was up 68 percent for the year, and the value of residential projects was up 18 percent. The value of nonresidential construction, however, closed the year out 34 percent lower than in 2009. — JEFF FEINGOLD/NEW HAMPSHIRE BUSINESS REVIEW