TODAY'S PAPER
55° Good Evening
55° Good Evening
Business

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.

More news