Cleaning & Restoration Breaking News

Construction Activity Advances Three Percent in April

NEW YORK—The value of new construction contracts increased three percent in April to a seasonally adjusted annual rate of $476.5 billion, according to the F.W. Dodge Division of the McGraw-Hill Companies.

Moderate growth was reported for two of the three major industry sectors, nonresidential building and nonbuilding construction, while residential building witnessed only a slight improvement compared to the previous month.

According to this report, nonresidential building climbed 6 percent to $173.7 billion in April. The highest advances were made by public buildings, such as courthouses and detention facilities, up 58 percent, and by religious buildings, up 21 percent.

Nonbuilding construction grew 4 percent in April to $88.6 billion. Residential building edged up one percent to $214.1 billion.

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