Construction contracts decrease 5% in July.July's rate of construction contracting retreated 5 percent, slipping back about halfway from June's 11 percent surge of activity, reported the F.W. Dodge Division of McGraw-Hill. The latest month's data lowered the seasonally adjusted Seasonally adjusted Mathematically adjusted by moderating a macroeconomic indicator (e.g., oil prices/imports) so that relative comparisons can be drawn from month to month all year. Dodge Index to 98 (1987=100), down from June's revised 103. Weakening weak·en tr. & intr.v. weak·ened, weak·en·ing, weak·ens To make or become weak or weaker. weak  en·er n. occurred in nonresidential building and non-building construction, the two sectors most responsible for June's heightened volume. Residential construction continued to show modest improvement, although its 3 percent advance was still disappointing against the backdrop Backdrop may refer to:
Non-residential construction in July dropped 6 percent, falling back from a resurgent re·sur·gent adj. 1. Experiencing or tending to bring about renewal or revival. 2. Sweeping or surging back again. Adj. 1. June which witnessed the strongest nonresidential total so far in 1993. The institutional building sector was off 15 percent, returning to a level more consistent with the earlier months of 1993. Meanwhile, commercial and industrial building came through with a 6 percent gain, supported by an especially strong volume for stores and shopping centers shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into . Manufacturing building, while still at a weak level, showed improvement for the second consecutive month. Non-building construction plunged 16 percent, the result of being compared against a June total containing two large power plant projects. Public works public works pl.n. Construction projects, such as highways or dams, financed by public funds and constructed by a government for the benefit or use of the general public. Noun 1. construction (non-building excluding utilities) managed a 2 percent increase in July, aided by improvement for highways and bridges. Residential construction posted a 3 percent gain in July. A 13 percent advance in the value of multifamily starts spurred the increase, as the single family side of the housing market remained essentially unchanged for another month. At the end of 1993's first 7 months, total construction on an unadjusted basis Unadjusted Basis A basis used for depreciation purposes. Unadjusted basis uses the original cost of property or equipment without regard to salvage value. Notes: This method of calculating depreciation is used for ACRS and MACRS. was maintaining a one percent lead over the same period a year ago. Expansion was shown in just two regions of the country: the South Atlantic and South Central, each with 8 percent gains. The North Central stayed even in the January-July period, while the Northeast slipped 1 percent and the West fell 4 percent. |
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