South Carolina: February Construction Contracts Drop 33%
The overall value of South Carolina construction contracts fell by 33% in February, compared to the same period of a year ago, according to McGraw-Hill Construction, the publisher of ENR Southeast. The monthly total for new contracts was $482.5 million, down from last February’s $720.5 million.
All three construction sectors experienced significant declines. The nonbuilding category, which includes transportation and civil projects, dropped 43% and totaled $142.6 million for the month. Nonresidential contracts declined by 37% and tallied $116.3 million. The largest sector, residential, fell 22% compared to last February for a $223.5-million total.