Future N.H. construction numbers paint a dismal picture

In what could be a disturbing sign for the spring and summer construction season, the total value of future construction contracts in New Hampshire fell by 76 percent in February

In what could be a disturbing sign for the spring and summer construction season, the total value of future construction contracts in New Hampshire fell by 76 percent in February from the same month the previous year, with two of the three sectors showing substantial drops.

Future construction contracts in New Hampshire totaled $53.6 million in February, down from the $220.4 million recorded in February 2012, according to industry information service McGraw Hill Construction.

That drop percent drop was mostly attributable to a massive 98 percent plunge in nonbuilding contracts – projects such as roads, bridges and other infrastructure – which fell to $3.8 million in February, down from the $220.5 million recorded in February 2012.

Nonresidential construction contracts totaled $6.9 million in February 2013, down 46 from the $12.8 million recorded a year earlier.

One hopeful sign came on the residential side, where the total value of contracts rose 58 percent year over year, from $19.2 million in February 2012 to $42.9 million in February 2013.

So far this year, the total value of future construction contracts stands at $140 million – 54 percent lower than the $303.6 million through February 2012.