New contracts for future Georgia construction activity increased by 10% in July, according to McGraw-Hill Construction, publisher of Engineering News-Record. The state recorded $957.4 million in new contracts during the month.
Residential provided most of the increase. For July, this category was 37% ahead of last year’s pace, with an estimated $402.4 million in new contracts moving forward. Nonresidential contracts also posted an increase, of 3%, for a nearly $397.3 million total. The nonbuilding sector, which includes infrastructure work, fell 17% compared to the same period of a year ago, and tallied nearly $157.8 million.