Florida Contract Activity: 17% August Drop; Flat YTD
The value of new construction contracts for future construction in Florida fell by 17% overall in August, led by major declines in both the nonresidential and nonbuilding categories, according to McGraw-Hill Construction, publisher of Southeast Construction. During August, the state experienced slightly more than $1.4 billion in new contracts for future construction. The previous August, the value of contracts totaled more than $1.7 billion.
The nonresidential market fell 29% during August to tally nearly $405.9 million, down from the $575.5 million recorded last August.