N.H. future construction contracts rebound in July
There were substantial increases in anticipated projects in both the New Hampshire nonresidential and nonbuilding sectors, with a somewhat modest decrease in residential construction.
The total value of future construction contracts in New Hampshire jumped dramatically in two of three sectors in July.
According to data from industry information service McGraw-Hill Construction, there were substantial increases in anticipated projects in both the nonresidential and nonbuilding sectors, with a somewhat modest decrease in residential construction.
The total amount of future construction contracts for July was $160.2 million – 75 percent more than the $91.5 million recorded in July 2011. The total was also 40 percent higher than the $114.3 million total recorded in June 2012.
Nonresidential contracts totaled nearly $59 million in July, an 80 percent increase from a year earlier.
Nonbuilding contracts – for roads, bridges and similar projects — totaled $63.6 million, nearly 350 percent higher than the $18.4 million recorded a year ago.
In the residential construction sector, future contracts totaled $37.6 million. 7 percent less than the $40.4 million reported in July 2011.
The only construction sector that saw a year-over-year gain in total contracts was residential, which rose 7 percent from $55.3 million in June 2011 to $59.6 million in June 2012.Year to date, the value of future construction contracts stands at $936.4 million, a 9 percent drop from the $998.7 million recorded through July 2011.