January Construction Retreats 12 Percent
- Published: Friday, 15 March 2013 16:36
By Mark S. Kuhar
The value of new construction starts dropped 12 percent in January to a seasonally adjusted annual rate of $469.1 billion, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies. The decline followed a sharp 23 percent increase for total construction in December, and brought the level of contracting back to the average pace that was reported during 2012.