Non-residential construction contracts drop

The value of contracts for future building construction in the Pittsburgh region plunged in November by 52 percent but held steady for the year to date, McGraw-Hill Construction reported.

The value of nonresidential contracts last month tumbled by 67 percent, to $87.3 million, from $264.6 million in November 2007. Residential contracts for the month jumped by 21 percent to $67.2 million from $55.8 million a year ago.

For the year to date, the value of residential and nonresidential contracts totaled $2.4 billion, unchanged from the first 11 months of 2007.