Georgia Contracts Stumble to Start The Year
Georgia construction continued its reduced pace in January, as McGraw-Hill Construction reported that the value of new contracts fell 19% in January, compared to the same period of a year ago. Overall, the value of new contracts during the month totaled approximately $733.9 million, down from last January�s $909.5 million.
The nonbuilding sector, which includes infrastructure and civil contracts, declined by the greatest percentage. The value of these new contracts totaled $133.6 million, or 47% below last January�s $251.2 million.
Nonresidential contracts also declined, totaling $355.1 million, down 11% from the same period of a year ago. Residential contracts totaled $245.2 million for the month, or 6% below last January.