County Construction Contracts Drop 17 Percent in First HalfFriday, August 2, 2013
San Diego County’s contracts for future construction in the first half of 2013 declined 17 percent from the same period of 2012, according to newly released data from McGraw Hill Construction. Projects totaled just over $1.6 billion in the January-to-June period.
The value of nonresidential projects declined 36 percent, to just over $848.1 million. That decline was partially offset by a 23 percent rise in residential contracts, to $766 million.
Nonresidential projects include office, manufacturing, hospitality and other commercial buildings. The residential category covers one- and two-family houses and apartments.
Statewide, overall construction contracts were down 2 percent from a year ago in the first half, to just over $23.1 billion. Nonresidential projects dropped 14 percent, while residential projects were up 13 percent.
— SDBJ Staff Report