June Contracts: Bright Spots Emerge for Both N.C., S.C.
In North Carolina, the overall total for new project starts was roughly $1.4 billion, down from last June’s total of more than $1.5 billion. Despite the overall downturn, two of the three construction categories measured by McGraw-Hill Construction showed double-digit percentage point increases compared to a year ago.
The residential sector continued to decline, dropping 33% compared to last June to total $523.3 million for the month. The nonbuilding sector – which includes infrastructure projects – increased by 33%, and totaled $251.7 million for the month. Nonresidential was the other positive sector, experiencing a 17% uptick in June for a $674.6-million tally.