Metro area construction contracts up 5% in February
The value of contracts for future construction in the metropolitan area climbed 5 percent last month compared with a year ago on higher commercial activity.
Dodge Data & Analytics, an industry information service, reported Thursday that contracts worth $3 billion for future building were awarded in February in the 23-county region that includes Long Island, up from $2.7 billion in February 2014.
Nonresidential contracts, for commercial properties such as offices, hotels, factories and warehouses, totaled $1.3 billion last month, up 37 percent year over year.
Residential contracts dropped 13 percent to $1.5 billion.