South Carolina: New Contracts Jump 22% in January
As was the case in other states around the country, South Carolina’s residential and nonbuilding sectors showed robust gains in the value of new contracts signed in January for future construction, reported McGraw-Hill Construction, publisher of Southeast Construction. Compared to the same period of a year ago, the value of South Carolina’s January contracts was roughly $502.3 million, or 22% better than a year ago.
The nonbuilding category, which includes infrastructure projects, showed the biggest surge by nearly doubling compared to last January and generating $164.4 million in new contracts. The residential sector also jumped notably, improving by 42% compared to the year-ago period for a nearly $222.9-million total. However, the value of new nonresidential contracts slid significantly, dropping by 33% compared to last January for a total of $115 million in new contracts.