Florida Contracts Experience Dog Days in July

The overall value of new Florida construction contracts fell precipitiously in July, for a monthly total of less than $1.6 billion, according to McGraw-Hill Construction, publisher of Engineering News-Record. The monthly total was a 60% decline from the same period of a year ago.

The biggest dropoff was in the nonbuilding sector, which includes infrastructure contracts. Its July total of $442.2 million was 83% lower than the nearly $2.6 billion recorded last July. The nonresidential category also dropped dramatically, declining by 39% compared to a year ago for a $352.3 million total. Residential contracts eked out a 1% gain, and totaled $773.9 million.

On a year-to-date basis, all categories are negative. Nonbuilding is the furthest behind, at 41% below last year’s pace, with about $4.2 billion in new contracts through the first seven months of 2011. Nonresidential’s $3.4 billion total through July is 25% less than a year ago, when it tallied nearly $4.6 billion. Residential is down just 2% so far in 2011, with just under $5.3 billion in new contracts awarded to date.

Overall, 2011 Florida contracts total nearly $12.9 billion through July, or 25% behind the 2010 pace of $17.1 billion

Scott Judy is Deputy Editor for Regions, and editor of ENR Southeast, one of Engineering News-Record's 10 Regional publications. His roughly 27 years as a construction journalist began with an 11-year stint covering Midwest construction projects. In 2000, Judy helped launch the publication now known as ENR Southeast. He often delves into controversial aspects of the construction industry such as bankruptcies and fatal accidents, and wishes he would never have to cover another accident but suspects that he might.