Construction contracts decline in KC area in February
03/25/2014 11:06 AM
03/25/2014 9:11 PM
The Kansas City area continued its slow 2014 construction start, with total contracts down 29 percent in February compared with last year, a national trade publication reported Tuesday.
McGraw Hill Construction reported contracts totaling $129.6 million issued last month, compared with $183.7 million in February 2013. Nonresidential contracts were down 25 percent to $64.2 million and residential contracts were down 34 percent to $65.3 million.
Through the first two months of the year, total building was down 14 percent compared with the same period last year. Residential work was off 38 percent through February to $142.7 million and commercial work was up 17 percent to $207.8 million.
McGraw Hill defines residential construction as single-family and multifamily housing. Nonresidential work includes office, retail, hotel, warehouse, health care and educational construction.
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