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United States : Philly Construction Contracts More Than Double in June.

June 2010 contracts for future commercial construction in the Philadelphia-Camden-Wilmington Metropolitan statistical area more than doubled when compared to the same month in 2009, according to McGraw-Hill Construction.

Non-residential construction contracts tracked by McGraw-Hill's Research and Analytics unit totaled more than $246M in June, up from $108M in June 2009.

After rising 25 percent in March, contracts for future commercial construction statistical fell 47 percent in April, then jumped up again by 43 percent in May. The first quarter showed a jump of 23 percent when compared to the first quarter 2009. For the year, non-residential construction contracts are up 18 percent in the metro area.

McGraw Hill defines commercial real estate construction as commercial, manufacturing, educational, religious, administrative, recreational, hotel, dormitory and other non-residential buildings.

The metropolitan statistical area measured included Philadelphia-Camden-Wilmington, which consists of Bucks, Burlington, Camden, Cecil, Chester, Delaware, Gloucester, Montgomery, New Castle, Philadelphia and Salem in Delaware, Maryland, New Jersey and Pennsylvania.

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Date:Jul 28, 2010
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