Essential economics

Pit & Quarry, Feb, 2004

* New construction starts in November 2003 increased 1 percent to a seasonally adjusted annual rate of $549 billion, according to McGraw-Hill Construction Dodge, a division of The McGraw-Hill Companies. Nonbuilding construction in November 2003 increased 11 percent to $104.7 billion. The highway and bridge category jumped 25 percent from October 2003.

Monthly Construction Contract Value
Seasonally Adjusted Annual Rates, in Millions

                                 Nov. 2003      Oct. 2003      % Change

Nonresidential Building          $149,233       $147,918           1
Residential Building              294,999        298,599          -1
Nonbuilding Construction          104,794         94,685          11
Total Construction               $549,026       $541,202           1