The value of new Florida construction contracts eked out a 1% gain in September, according to McGraw-Hill Construction, with new projects totaling roughly $1.7 billion.
For the month, the nonresidential category continued its downward trend, registering a 29% decline compared to the same period of a year ago, with $419.3 million in new contracts. Residential contracts outpaced last September’s total by 27%, however, with an estimated $817.5 million in new projects. The nonbuilding sector, which includes infrastructure work, gained 1% compared to last September, and registered an estimated $493.2 million in new contracts.