Construction contracts declined 12% last month.
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Despite the decline, second-quarter contracts for new construction nationwide set a record, a survey released by the F. W. Dodge division of McGraw-Hill Information Systems said. According to the survey, the seasonally adjusted annual rate of contracting was $199.8 billion in June and an all-time peak of $218.1 billion for the quarter. The seasonally adjusted Dodge index, which uses 1977 as its base of 100, fell to 142 in June after three months in the 160s.
June Construction Contract value in millions of dollars and change from year ago.
51.0 Off 4% Residential 37.1 Up 6% Non-residential 20.1 Up 12% Non-building
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