New construction contracts rose in February.
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The value of new construction contracts in the United States increased by 11% last month on the strength of a start-up in delayed public works projects, according to a survey released by the F.W. Dodge Division of McGraw-Hill Information Systems. According to the survey, the increase placed the value of February contracts at a seasonally adjusted annual level of $229.05 billion. That topped the January figure of $205.7 billion, which had plunged from $227.9 billion in December. Contracts for heavy construction such as public works and utilities rose 40% to $46.3 billion in February from $33.2 billion the previous month, the survey said.
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