The pace of new South Carolina construction contracts fell significantly in two of three construction sectors in May, resulting in a 22% overall decline, according to McGraw-Hill Construction, publisher of ENR Southeast. The end result was $468.7 million in new starts.
Nonresidential fell the furthest, as this sector’s May total of nearly $90.7 million was 57% below the pace of a year ago. The nonbuilding sector, which includes infrastructure contracts, recorded $76.7 million in new starts during the month, or 28% behind last May’s volume. Residential work collectively improved by 7%, with about $301.3 million in new contracts moving forward during the month.