South Carolina Contracts Decline 12% in June

A significant decline in the value of nonbuilding projects caused South Carolina’s overall total for new construction contracts to decline 12% in June, according to McGraw-Hill Construction, publisher of ENR Southeast. The state recorded an estimated $648.9 million in new contracts during June.

The nonbuilding sector fell 53% compared to the same period of a year ago, for a June total of $113.6 million. It was the lone negative sector for the month, however.

Nonresidential experienced a 17% increase in June, for a total of $235.7 million in new contracts. Residential contracts edged up 3% for a total of $299.6 million.

On a year-to-date basis, McGraw-Hill Construction estimates South Carolina’s new construction contracts at slightly more than $3.5 billion, or 9% below the nearly $3.9 billion that was recorded through the first half of 2010.

Through June, nonresidential is the only positive sector. Its total of nearly $1.3 billion is 22% ahead of 2010’s pace. Nonbuilding contracts have experienced the greatest percentage decline to date, with its $611 million total representing a 41% drop from a year ago. The company estimates new residential contracts at about $1.6 billion, or 8% lower than last year.

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.