Despite a significant uptick in the value of infrastructure projects, North Carolina’s overall total for new construction contracts fell 23% in April, according to McGraw-Hill Construction, publisher of ENR Southeast. The decline resulted in an estimated $912.6 million in new contracts during the month, down from last April’s $1.2-billion total.
McGraw-Hill Construction estimated April’s total for the nonbuilding category, which includes infrastructure work, at $168.4 million, or 20% ahead of the same period of a year ago. The other two sectors fell significantly, however. The value of nonresidential contracts was 42% lower in April than the same period of a year ago, with about $276.2 million in new work during the month. Residential contract activity declined by 17% for a total of roughly $468 million.