NY metro construction contracts fall 13%
The value of contracts for future construction in the metropolitan area fell 13 percent last month compared with a year ago on lower residential activity, a report Wednesday shows.
Dodge Data & Analytics, an industry information service, reported contracts worth $3 billion for all future building were awarded in October in the 23-county region that includes Long Island, down from $3.5 billion in October 2014.
Residential contracts totaled $1.3 billion last month, off 47 percent year over year.
Nonresidential contracts, for commercial properties such as offices, hotels, factories and warehouses, rose 75 percent to $1.7 billion.
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Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
