New construction contracts rose slightly in October...

New construction contracts rose slightly in October after a three-month slump, on the strength of residential building everywhere except in the Northeast, a business research company reported. The F. W. Dodge Group of McGraw-Hill Information Services Co. said new construction projects last month were up 1% to an annualized value of $240.2 billion. Construction contracts fell 3% in September, following drops in the previous two months. George A. Christie, a McGraw-Hill economist, said the October improvement was welcome. He said it “should be interpreted as a pause rather than a turnaround for the sagging construction sector.”