$2.7B in contracts for future building awarded in April, report says
A builder works on a home under construction in northwest Chicago on March 26, 2014. The Commerce Department reports on U.S. home construction in April on Friday, May 16, 2014. Credit: AP
The value of contracts for future construction in the metropolitan area was unchanged last month compared with a year ago because of a slowdown in commercial activity.
McGraw Hill Construction, an industry information service, reported Thursday that $2.7 billion worth of contracts for future building were awarded in April for the 31-county region that includes Long Island. That's essentially flat over April 2013.
Residential contracts totaled $1.7 billion last month, a gain of 44 percent, year over year. Nonresidential contracts, which include offices, hotels, factories and warehouses, fell 32 percent, to $1.1 billion.
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