At a seasonally adjusted annual rate of $478.2 billion, the value of new construction starts in November 2001 was down 3 percent from October 2001, according to the F.W. Dodge Division of the McGraw-Hill Companies. Reduced contracting was reported for housing and public works, while nonresidential building showed improvement for the third month in a row. Residential building in November 2001 dropped 5 percent to $202.6 billion. Single family housing was down 6 percent in dollar volume, while multifamily housing remained steady with the prior month. Non-building construction, at $91.1 billion, fell 18 percent in November 2001. Nonresidential building in November 2001 grew 10 percent to $184.5 billion.
Did you enjoy this article?Click here to subscribe to POB.