Florida Contracts Down Again, Dip 11% in May

Nearly $1.7 billion in new Florida construction contracts moved forward in May, according to McGraw-Hill Construction, but that was 11% behind last year’s pace, as all three sectors declined during the month.

Both the nonresidential and nonbuilding sectors were 13% lower than a year ago. New nonresidential contracts totaled $570.4 million for the month, while nonbuilding starts tallied roughly $432.9 million. The value of new residential contracts was estimated at $683.6 million, or 8% below last May’s pace.

For the year to date, McGraw-Hill Construction estimates the value of 2011 Florida contracts at nearly $8.8 billion, or 23% below the $11.4 billion in projects recorded through the first five months of 2010.

Scott Judy is Deputy Editor for Regions, and editor of ENR Southeast, one of Engineering News-Record's 10 Regional publications. His roughly 27 years as a construction journalist began with an 11-year stint covering Midwest construction projects. In 2000, Judy helped launch the publication now known as ENR Southeast. He often delves into controversial aspects of the construction industry such as bankruptcies and fatal accidents, and wishes he would never have to cover another accident but suspects that he might.