Construction in January surges
A surge of nonresidential building in January lifted the seasonally adjusted Dodge Index of total construction-contract value to 190, its highest level in the past nine months, according to the F.W. Dodge Division of the McGraw-Hill Information Systems Company.
The Dodge Index, which measures the value of newly started construction of all kinds, advanced 4 percent in January, after a 17 percent gain in December.
Contracting for commercial, industrial, and other types of nonresidential buildings soared to $4.4 billion in January, up 10 percent from the total a year earlier.