Drop came in October.
Contracting for new construction dropped one percent in October to a seasonally adjusted annual rate of $490.1 billion according to the F.W. Dodge Division of the McGraw-Hill Companies. Residential building continued its gradual retreat, but a sharper decline was reported for nonbuilding construction after a strong September. Nonresidential building ran counter to the downward trend.
Construction Activity Slipped 12.10.2001
December 10, 2001