Florida Contracts: Value of New Projects Drops 11% in February
Florida saw an 11% drop in the value of new construction contracts signed in February, leaving its year-to-date total 2% down from 2009’s pace, reported McGraw-Hill Construction, publisher of Southeast Construction.
During February, the value of new nonresidential contracts fell 23% compared to the same period of a year ago, for a total of $370.3 million. The residential category improved, with new starts increasing 31% to total $685.5 million. The nonbuilding category dropped 20% for a total of $1.3 billion.