Nonresidential projects continue to set the pace in Sept.
Future contract numbers show renewed strength in sector
Continued strength in the value of future nonresidential projects in New Hampshire anchored another overall increase in pending construction contracts signed in September, according to industry information service McGraw-Hill Construction.
McGraw Hill reported that the value of all contracts awarded for future construction in September totaled $128.2 million, 8 percent more than the $118.8 million recorded in August 2013.
For the second month in a row, nonresidential construction projects led the way, totaling $33 million, a rise of 21 percent from the $27.2 million recorded a year earlier.
The continued strength in future nonresidential projects is a reversal from recent trends. Through July, nonresidential deals were down 28 percent from a year ago.
In other sectors, residential construction rose 6 percent in September, to $71.7 million from last September’s $67.7 million.
However, nonbuilding construction contracts – which includes roads, bridges and other infrastructure – fell by 2 percent, totaling $23.4 million from the $23.8 million recorded in September 2013.
So far this year, future construction deals have totaled $1.1 billion, up 4 percent from August 2013.