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Non-residential construction contracts drop

Post Time:Dec 24,2008Classify:Industry NewsView:395

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.

Source: Pittsburgh Post-GazetteAuthor: shangyi

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