Slight decline overall in projects and contracts, with positive trends in Public Buildings and Transportation, declines in Residential and Educational projects.
By Nate Boes
Special to Chicago Construction News
Overall we see a slight decrease in total projects and contracts that have closed when we compare third quarter of 2015 to the same period Q3 of 2014. Continued positive trends are up in both Public Buildings and Transportation, while Heavy / Highway is also trending upward for Q3.
Residential Developments and Educational Projects closing during this period are down significantly compared to the previous second quarter of 2015.
Private-Sector Restaurants/Retail, Public-Sector Parks/Recreation and Private-Sector Leisure/Recreation are also down slightly but not as dramatically as counts taken in Residential and Educational contracts/ developments.
Construction spending is flat but up nationally .7% in August compared to .4% in July. The price of oil appears to lower as expected, with the average cost per gallon down around $2.29.
Hopefully some of this good news translates into continued strength as purchasing departments in the public sector plan next years projects.
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