Local construction outlook dismal
Contracts for future construction in the Madison metro area were well down in September compared to a year ago, indicating no looming pick-up in the sluggish construction industry, McGraw-Hill Construction reported.
New contracts totaled $35.8 million in September, down 70 percent from $118.8 million a year ago.
That included $12.4 million in nonresidential contracts, down 85 percent from $85.0 million a year ago, and $23.4 million in residential contracts, down 31 percent from $33.8 million a year ago.
Year-to-date through September, new contracts totaled $627.8 million, down 25 percent from $836.6 million a year ago.
That included $357.5 million in nonresidential contracts, down 19 percent from $441.5 million a year ago, and $270.2 million in residential contracts, down 32 percent from $395.0 million a year ago.
The Madison metro area includes Dane, Columbia and Iowa counties.
Nonresidential construction includes
commercial, manufacturing, educational, religious, administrative,
recreational, hotel, dormitory and other buildings, while
residential includes one- and two-family houses and
apartments.
