Mild Declines in September Contract Values for N.C., S.C.
Compared to the same period of a year ago, the value of new contracts signed in September for future construction fell by 8% in North Carolina, and 6% in South Carolina, according to information from McGraw-Hill Construction, publisher of Southeast Construction.
In North Carolina, project starts totaled $1.2 billion, down from last September’s $1.3 billion. Nonbuilding contracts totaled $423.6 million for the month, 59% ahead of a year ago. Nonresidential fell 31% to $269.9 million. Residential fell 23% to total $489.1 million.
For 2008, North Carolina’s contract activity is 34% behind. The nonbuilding sector, at $1.9 billion, is 39% behind last year. Residential is 45% behind, with a $4.2-billion total. Nonresidential is 12% behind, at $4.3 billion.
In South Carolina, September’s 6% decline resulted in a total of about $749 million.
Residential fell 16% to total $269.3 million. The nonresidential sector declined 12% to tally $313.1 million. The nonbuilding sector surged by 35%, for a $166.7-million total.
So far, South Carolina contract activity is 42% behind 2008, at $5.1 billion. Nonresidential is 40% behind, at $1.8 billion Residential is 41% down, at $2.3 billion. Nonbuilding is down 48%, with a $903.7-million tally.
