N.C. Contracts: August Decline Pushes YTD Total Negative
The overall value of new North Carolina contracts tumbled in August, dropping 50% compared to the same period of a year ago, according to McGraw-Hill Construction, publisher of Southeast Construction. August contracts for future construction totaled roughly $872.1 million during the month, down from $1.7 billion a year ago.
Nonresidential contracts declined the most, by 75%, to total $249 million, down from last August’s $994 million. The nonbuilding category—which includes infrastructure projects—fell 55% to tally $96.4 million.