Contracts for future construction in the Lewiston-Auburn area nose-dived by 32 percent in May when compared with a year earlier, according to McGraw-Hill Construction.
Nonresidential building contracts were off by 38 percent, falling to $4.48 million in May from $7.28 million in May 2002.
Deals calling for construction of one- and two-family houses and apartment buildings were off by 24 percent, dropping to $4.82 million compared to $6.36 million a year earlier.
The good news: Year to date, McGraw-Hill said the region is running 33 percent ahead of 2002, with total building contracts signed worth $54.8 million. At the same time in 2002, the company said similar contracts were valued at $41.1 million.
Nonresidential building contracts in the area are worth $35.2 million so far this year. It was valued at $12.7 million last year.
The value of residential building contracts for the first five months of the year was pegged at $19.5 million, down 31 percent from 2002’s $28.45 million.
McGraw-Hill publishes Dodge Reports and Sweets Files.
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