Led by strong gains in both the residential and nonbuilding sectors, the value of new North Carolina contracts signed in January for future construction jumped by 19% overall, compared to the same period of a year ago, according to McGraw-Hill Construction, publisher of Southeast Construction. The value of the state’s January construction contracts was nearly $1.1 billion.
The nonbuilding category, which includes infrastructure projects, showed the biggest monthly gain, jumping 97% compared to the same period of a year ago with $218.9 million in new contracts. North Carolina’s residential sector also showed strong signs of life, improving by 30% compared to last January for a nearly $436.2-million total. On the negative side, the value of new nonresidential contracts fell 9% to total approximately $398 million for the month.