A 41% drop in the value of new nonresidential contracts pulled down North Carolina’s April total for new projects by 13% overall, according to McGraw-Hill Construction. In all, the company estimated the Tar Heel State delivered nearly $851.4 million in new contracts during the month.
The nonresidential sector was the leading culprit for the state’s April decline. Its 41% drop resulted in nearly $196.8 million in new work, compared to the $335.4 million reported a year ago.