The value of new construction starts edged up 1 percent in December to a seasonally adjusted annual rate of $456.3 billion, according to the F.W. Dodge Division of the McGraw-Hill companies. A surge of nonresidential building offset declines for residential building and nonbuilding construction (public works and utilities). For all of 2000, total construction advanced 3 percent to $460.6 billion, marking the ninth straight year of expansion.
December's data lifted the Dodge Index to 181, compared to a revised 180 for November. The Dodge Index had averaged 185 during the first half of 2000, before losing momentum in July and August. The final months of the year show the Dodge Index essentially leveling off just below its full year reading of 183.