August is Bad Month for New Georgia Construction Contracts
The value of new construction contracts in the state of Georgia sank by 46% overall in August, according to McGraw-Hill Construction, publisher of Southeast Construction. During the month, the state of Georgia experienced roughly $671 million in new contracts for future construction activity, well down from last August’s $1.2-billion tally.
The nonbuilding market’s pace of new contracts dove by 61% compared to a year ago, registering $152.3 million in new projects, down from the $391.9 million of a year ago. The value of new nonresidential contracts fell by a similar pace, dropping 55% to total $239.3 million for August, compared to the year-ago figure of $527.5 million.