Construction starts, architecture billings slow in January
The value of new construction starts retreated 6 percent in January, according to data collected by McGraw-Hill Construction, New York. "The decline came as the result of a pullback for nonresidential building after a strong December, combined with a loss of momentum for residential building. ... On an unadjusted basis, total construction starts in January were ... down 4 percent from the same month a year ago. ... Nonresidential building in January dropped 13 percent ..., following December’s strong 27 percent gain. Health care facilities in December were lifted by the start of six massive hospital projects, and January showed this category retreating 46 percent from its exceptional December amount. The healthcare category in January was still 7 percent above its monthly average for 2010 as a whole," according to a Feb. 24 Data DIGest report.