Point of Beginning

September Construction Contracting Rises Five Percent

December 1, 2001
A surge in public works projects helps.

The value of new construction starts increased five percent in September to a seasonally adjusted annual rate of $488.5 billion according to the F.W. Dodge Division of the MCGraw-Hill Companies. A surge of public works and electric power plant projects boosted the level of total construction, and nonresidential building increased as well. The housing sector continued the downward trend from earlier this year.