Web Exclusive: January Construction Contracts Rise 2%
In January, new construction starts increased 2 percent over December to an annual rate of $433.1 billion, according to the F.W. Dodge Division of the McGraw-Hill Cos.
The Dodge Index was 172, vs. December's 168. Analysts say this slight increase indicates that construction is stabilizing at what is still a very healthy volume. Also, construction activity in 2000 will be supported by strengths in the public works and institutional building sectors. It remains to be seen how higher interest will affect housing and commercial building.