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% overall in North Carolina, and 6% in South Carolina, according to the latest information from McGraw-Hill Construction, publisher of Southeast Construction.
In North Carolina, the overall total for new project starts was nearly $1.2 billion, down from last September’s total of nearly $1.3 billion. A surge in the nonbuilding category somewhat offset major declines in the other construction sectors. Nonbuilding contracts totaled $423.6 million for the month, 59% ahead of the same period of a year ago. Nonresidential contracts fell 31%, however, to total $269.9 million. The residential sector fell 23% in September to total $489.1 million.