In November, Value of New Contracts Fell 32% in North Carolina
Compared to the same period of a year ago, the value of new contracts signed in November for future construction fell by 32% overall in North 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 $852.5 million, down from last November’s total of nearly $1.3 billion. Nonbuilding contracts declined by the greatest percentage, dropping 67% compared to last November to total nearly $145.3 million. The value of new nonresidential contracts also fell, by 29%, to total $297.8 million. Residential contracts improved by 1% in November to total $409.4 million.