Florida Contracts: 8% December Drop = 24% ’09 Decline
McGraw-Hill Construction, publisher of Southeast Construction, reported that the value of new Florida contracts signed in December for future construction fell by 8% overall, compared to the same period of a year ago. The total of all new contracts was slightly more than $1.7 billion.
Both the residential and nonresidential categories were negative. The value of residential starts slipped 11% to total $611.1 million for the month. Nonresidential starts plummeted 45% to total just $431.4 million. On the bright side, the nonbuilding category—which includes infrastructure projects—soared 70% to deliver nearly $675.3 million in new contracts during December.