Georgia Contracts: 23% Decline in February
The collective value of February Georgia construction contracts was 23% behind that of the same period of a year ago, according to McGraw-Hill Construction, the publisher of ENR Southeast. In all, the state recorded an estimated $684.9 million in new contracts during the month.
The nonbuilding sector tumbled by 65% compared to last February, recording roughly $114.7 million in new contracts during the month. Residential contracts were off by 12%, with a total of about $255.4 million. Georgia’s nonresidential sector showed significant improvement over last year, with its $314.9-million total representing a 17% increase over the same period of a year ago.
For the year-to-date, the overall value of Georgia’s contracts is estimated at nearly $1.4 billion, or 23% below the $1.8-billion recorded at the same time last year.
Through February, the nonbuilding sector, which includes transportation and civil contracts, is 57% behind last year’s early pace, with roughly $247.3 million in new contracts so far. Residential contracts are an estimated 12% below 2010, with a total of about $484.3 million. The nonresidential market is down 2%, with an estimated $654.7 million in new contracts.