The pace of new North Carolina construction contracts slowed slightly in May, according to McGraw-Hill Construction. The state’s nearly $1.1 billion in new contracts was 5% behind the pace set last May.
Residential contracts improved slightly during the month, with the $528.5 million in new starts equaling a 2% gain compared to a year ago. Nonresidential’s total of nearly $394.9 million was 6% behind last May’s pace. The nonbuilding sector, which includes infrastructure projects, experienced a 24% decline, with about $128.6 million in new starts.