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Metro area construction contracts up 25 percent, new report says

The value of contracts for future construction in the metropolitan area rose 25 percent in May compared with a year ago, as commercial activity picked up in all sectors.

McGraw Hill Construction, an industry information service, reported that $1.9 billion worth of contracts for future building were awarded in May for the 23-county region that includes Long Island.

Residential contracts totaled $875 million, a gain of 25 percent, year over year. Nonresidential contracts, which include offices, hotels, factories and warehouses, were also up 25 percent, to $1 billion.

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