February Construction Contracts Advance One (1) Percent 04.02.2002
February's data lifted the Dodge Index to 154 (1996=100), slightly above a revised 153 for January. The Dodge Index had settled back to 146 at the close of 2001, after reaching a peak of 155 earlier in the year.
Nonresidential building grew five percent to $169.8 billion, nonbuilding construction increased 12 percent to $109.2 billion, while residential building fell six percent to $233.8 billion.
During the first two months of 2002, total construction on an unadjusted basis was up 2 percent versus the same period a year ago. Residential and nonbuilding construction showed respective gains of 11 percent and five percent, but nonresidential building was down 11 percent compared to 2001.