The pace of new North Carolina construction contracts got off to a slow start in January, according to McGraw-Hill Construction, publisher of ENR Southeast. The company reported that the state registered approximately $908.5 million in new contracts during the month of January, down 22% from last January’s nearly $1.2-billion total.
All three of McGraw-Hill Construction’s project sectors showed double-digit declines for the month. The nonbuilding category, which includes infrastructure and civil contracts, fell 41% compared to the same period of a year ago, and recorded just $139.7 million in new volume.
Meanwhile, the residential sector tallied roughly $376.1 million in new January contracts, or 23% below the year-ago total of more than $486.9 million. Nonresidential contracts totaled approximately $392.7 million, or 10% behind last year’s pace. Read More.