Newspaper article THE JOURNAL RECORD

Construction Pacts Dip for State, Area

Newspaper article THE JOURNAL RECORD

Construction Pacts Dip for State, Area

Article excerpt

Value of construction contracts in April decreased nearly 30 percent in both central Oklahoma and across the state, according to the Dodge Local Construction Potentials Bulletin.

Total value of construction contracts in the central area declined 29.1 percent to $78.4 million from $110.5 million in April 1994. Last month's value was 4.2 percent more than March contracts valued at $75.26 million.

Statewide construction figures fell 29.8 percent in April to $187 million from $266.6 million in the same month last year. The April total was 23.6 percent less than March contracts valued at $244.9 million.

The Dodge report is a monthly publication of the F.W. Dodge division of McGraw-Hill Information Services Co. of New York. It defines the 10-county central area as Canadian, Cleveland, Grady, Kingfisher, Lincoln, Logan, McClain, Oklahoma, Payne and Pottawatomie counties.

In the first four months of the year, central Oklahoma had a total of $343.4 million in building contracts, a 15 percent decrease from $404.3 million in the same period of 1994.

Across the state, the total value of year-to-date building pacts was $901.4 million, 2 percent less than $915.9 million last year.

Categories of the building contracts counted in the total dollar amount are residential, nonresidential and nonbuilding.

Individual reports in the central part of the state showed: Residential construction in April decreased 37.1 percent to $34.6 million from $55.1 million in April 1994. It was down 20.4 percent from $43.5 million in March. The first four months of 1995 showed a 23 percent decrease to $165.6 million from $215.3 million last year.

Residential buildings include one- and two-family houses and apartments. Nonresidential construction was down 3.6 percent in April to $23 million from $23.87 million last year. …

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