The bad news for Florida contractors returned in April, as the value of new contracts fell by 14% overall, according to McGraw-Hill Construction, publisher of ENR Southeast. The downward slide returned after a strong March—the state’s only positive month for the year—and pushed the latest total for new construction contracts down to approximately $2 billion.
All three sectors declined during April, but nonresidential fell by the greatest percentage. This category’s total dropped 33% compared to the same period of a year ago, for a $401.6-million total. The nonbuilding category, which includes infrastructure projects, declined by 12% and tallied $780.3 million for the month. The value of residential contracts totaled $817.8 million, or 2% lower than the previous April.