fedgazette

2003 construction contracts flat

Benjamin Knelman - Edina High School, Edina, Minnesota
Smith Wilkinson

Published September 1, 2003  |  September 2003 issue

Construction contracts awarded in Minnesota, North Dakota and South Dakota stayed flat in the first six months of 2003. The total value of contracts awarded in the first half of the year was $3.193 billion, virtually unchanged from the $3.186 billion of the first half of 2002.
In total spending among the states, construction of private buildings declined 15 percent, public building construction declined 4 percent and road/bridge construction increased 16 percent. Within these aggregate movements, however, there was not a single shared trend among the three states.

Though private building construction in Minnesota and South Dakota declined by 14 and 44 percent, respectively, it grew by 44 percent in North Dakota. Public building construction fell in Minnesota by 7 percent and in North Dakota by 17 percent; yet it rose in South Dakota by 32 percent. Finally, although road and bridge construction decreased by 4 and 11 percent in North and South Dakota, respectively, Minnesota posted a 29 percent increase. The ups and downs for the aggregate three states followed the lead of Minnesota, whose contracts made up roughly three-fourths of the total for the group.
Chart: Construction Contracts
Source: Construction Bulletin

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