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Metro area construction contracts dip in September

The value of contracts for future construction in the metropolitan area declined in September compared with a year ago as residential activity dropped.

McGraw Hill Construction, an industry information service, reported contracts worth $1.75 billion for future building were awarded last month for the 23-county region that includes Long Island. Contracts totaled $1.76 billion in September 2013.

Nonresidential contracts, which include commercial properties such as offices, hotels, factories and warehouses, totaled $1.2 billion, a gain of 24 percent, year over year. Residential contracts fell 31 percent to $539 million, McGraw Hill said.


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