All three construction categories posted solid gains. Most notable was the nonresidential sector, which totaled $528.4 million for the month—or more than double the amount tallied last March, reports ENR Southeast.
On a year-to-date basis, McGraw-Hill Construction estimates that the value of new North Carolina construction contracts totals just over $3.4 billion through March, or 14% higher than 2011’s first quarter tally.
Residential has improved by the greatest percentage. This category totaled $1.7 billion through March, or 31% ahead of 2011’s early pace. The nonbuilding category is 13% higher than a year ago, with about $703.9 million in new contracts.
Despite the big March numbers, North Carolina’s nonresidential category remains negative for the year. McGraw-Hill Construction estimates the total value of new contracts in this category at $999.5 million, or 5% lower than the first quarter of 2011. Read More.