Construction contracting advanced 3% for all of 2001, reported F. W. Dodge, following gains of 5% in 2000 and 11% in 1999. However, the increase was attributable mainly to a 16% rise in the non-building sector (roads, bridges, etc.). Nonresidential construction declined 4% for the year, while new housing went up 4%.
"The construction industry slipped back during the first half of 2001, but then proved to be one of the more resilient sectors of the economy as the year progressed," said Dodge VP of Economic Affairs Robert Murray.
It should be noted, however, that Dodge's contracting index measures prospects several months down the road, not construction put in place.