South Carolina Contracts Drop 22% in May

The pace of new South Carolina construction contracts fell significantly in two of three construction sectors in May, resulting in a 22% overall decline, according to McGraw-Hill Construction, publisher of ENR Southeast. The end result was $468.7 million in new starts.

Nonresidential fell the furthest, as this sector’s May total of nearly $90.7 million was 57% below the pace of a year ago. The nonbuilding sector, which includes infrastructure contracts, recorded $76.7 million in new starts during the month, or 28% behind last May’s volume. Residential work collectively improved by 7%, with about $301.3 million in new contracts moving forward during the month.

For the year to date, South Carolina’s construction contract activity remains 10% behind the 2010 pace, with new projects estimated at slightly more than $2.8 billion.

Nonresidential is 22% ahead of last year’s pace, with an estimated $1 billion in construction starts so far this year. Residential volume is 13% below last year’s pace, with just over $1.3 billion in new contracts. Nonbuilding construction contracts are estimated at nearly $495.6 million, or 38% behind the 2010 volume.

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.