Construction contracts plummet in August
The value of contracts for future construction in the metropolitan area dropped 49 percent in August compared with a year ago on a decline in commercial activity. Credit: AP
The value of contracts for future construction in the metropolitan area dropped 49 percent in August compared with a year ago on a decline in commercial activity.
Dodge Data & Analytics, an industry information service, Wednesday reported contracts worth $2.6 billion for future building were awarded in August in the 23-county region that includes Long Island, down from $5 billion in August 2014.
Nonresidential contracts for commercial properties, such as offices, hotels, factories and warehouses, totaled $1.2 billion in August, off 60 percent from a year ago.
Residential contracts fell 31 percent to $1.4 billion.
Out East with Doug Geed: Wine harvests, a fish market, baked treats and poinsettias NewsdayTV's Doug Geed visits two wineries and a fish market, and then it's time for holiday cheer, with a visit to a bakery and poinsettia greenhouses.
Out East with Doug Geed: Wine harvests, a fish market, baked treats and poinsettias NewsdayTV's Doug Geed visits two wineries and a fish market, and then it's time for holiday cheer, with a visit to a bakery and poinsettia greenhouses.
