Metro area contracts for future construction up 43%

The value of contracts for future construction in the metropolitan area rose 43 percent in September compared with a year earlier, as both nonresidential and residential activity increased by about the same amount.

Dodge Data & Analytics, an industry information service, reported Thursday that contracts worth $8.8 billion for future building were awarded last month for a 23-county region centered on New York City that includes Long Island. That’s up from $6 billion in September 2016.

Last month, nonresidential contracts for commercial properties such as offices, hotels, factories and warehouses climbed 43 percent to $7 billion, year over year.

Residential contracts totaled $1.7 billion, a gain of 47 percent from September 2016.