ACHRNEWS

Mar. 29, 2002: Nonresidential And Public Works Construction Grows In February

March 29, 2002
LEXINGTON, MA — According to F.W. Dodge, the value of new construction starts increased 1% in February, to a seasonally adjusted annual rate of $512.8 billion, due to growth in nonresidential and public works construction.

The nonresidential sector was up 5% for the month. Hotels showed a 61% increase and office buildings rose 32%.

Residential construction was off 6%. Single-family housing was down 9%; however, multifamily housing jumped 16% to partially offset that decline.

Publication date: 03/25/2002