The value of new Pennsylvania contracts signed in January for future construction fell significantly compared to the same period of a year ago, according to McGraw-Hill Construction, publisher of Mid-Atlantic Construction. The overall value for new contracts for the month was $949.2 million, or 26% lower than the preceding January.
Pennsylvania’s nonresidential sector was singularly responsible for the overall downturn. Activity in this construction category fell to just $136.6 million, or 82% below last January’s total of $773.3 million.
The state’s residential sector increased, however. Here, McGraw-Hill Construction reported nearly $171.3 million in new contracts, or 17% higher than last year’s $146-million tally.
The nonbuilding sector, which includes infrastructure projects, shot up by 80% to total $641.3 million, well ahead of last year’s $356.8 million.