Gains in housing and infrastructure barely overcame a 55% decline in nonresidential construction contracts for a 2% overall increase in new South Carolina projects for October, according to McGraw-Hill Construction. In all, the company estimated that approximately $540.7 million in new construction contracts moved ahead during the month.
The nonresidential category’s dramatic decline represented just $63.25 million in new contracts. On the positive side, residential contracts tallied $386.5 million, a 23% improvement compared to the same period of a year ago. The nonbuilding category—which includes infrastructure and energy contracts—registered $91 million in new projects during the month, for a 16% gain compared to last October.