Construction starts rise.

The value of new construction starts increased 2% in October to a seasonally adjusted annual rate of $540.5 billion, as reported by McGraw-Hill Construction Dodge, a division of The McGraw-Hill Companies. Nonresidential building rebounded, up 16% to $150.3 billion, after a subdued September, more than offsetting modest declines in both residential building and non-building construction. Institutional starts were made up of 10% in school construction, healthcare facilities up 2%, and the amusement category had a large 86% boost.

Commercial categories showed a mixed pattern with warehouse construction up 86%, shopping centers increased 8%, but hotels and offices reported declines of 10% and 15%, respectively. Both residential and non-building construction dropped in October at 1% and 5%, respectively. Regionally, the total construction numbers for 2003 show that the West and South Central were each up 6%, the South Atlantic and Midwest were up 3%, and the Northeast was down 10%. Overall, the total construction in the first 10 months of 2003 was up 2% when compared to the previous year.