North Carolina: 1% December Drop Adds Up to 28% ’09 Decline
According to McGraw-Hill Construction, the overall value of new construction starts in North Carolina fell 1% in December, compared to the same period of a year ago.
The residential sector showed significant improvement in December, with new starts roughly 25% higher than a year ago, for a $414.8-million total. The other two construction categories were down considerably, however. Nonresidential starts fell 24% during the month, for a $171.5-million tally. The nonbuilding category, which includes infrastructure projects, declined 23%, for a $119.1-million total for the month.