A more than 300% gain in North Carolina’s nonbuilding category pushed the state’s September total for new construction contracts to a 58% overall improvement for the month, according to McGraw-Hill Construction.
The state recorded an estimated $1.3 billion in new contracts in September. The nonbuilding category, which includes infrastructure projects, recorded an estimated $604.5 million in new contracts, compared to last September’s $148.8-million tally. The nonresidential construction category was also positive, with its monthly total of $257.7 million equating to a 17% gain. The residential market was down 1%, however, with roughly $468.4 million in new work.
On a year-to-date basis, the nonbuilding category is again the shining star. Through September it has recorded more than $3.7 billion in new contracts, or 82% higher than the first nine months of 2010, when this category saw just over $2 billion in new work.
The other construction categories are negative for the year, however. McGraw-Hill Construction estimates nonresidential contracts at nearly $3.3 billion, or 12% lower than a year ago. Residential contracts are down 11% compared to 2010, with just over $4.2 billion in new projects so far. Overall, McGraw-Hill Construction estimates North Carolina’s 2011 contracts at roughly $11.2 billion, or 7% ahead of 2010’s pace. Read More.