Regional Building Dropped In July
The firm reported that building in Allegan, Kent, Muskegon and Ottawa counties was down 44 percent compared with July of 2001. Nonresidential construction in July was $32 million this year, off 73 percent from the same month in 2001.
Residential construction wasn’t hurt nearly as badly, being just under $89 million this July, down eight percent from $96 million for the same month last year.
In cumulative terms, the picture is not so gloomy, with building for all of this year being at $1,050,202,000, off four percent from $1,098,587,000 for the same period in 2001.
In fact, residential construction for the entire year is up 8 percent — $617 million this year in contrast to $572 million in 2001 — but nonresidential construction showed an 18 percent deficit.
Through July of 2001, nonresidential construction in the SMA totaled $525.7 million as opposed to $432.7 for this year.
McGraw-Hill Construction is a widely recognized authority on the construction market. The firm publishes Dodge Reports and Sweet’s Catalog Files.
The firm defines residential construction as one- and two-family homes.