Construction Pacts Up 3% in November

The number of new construction contracts rose in November, with the bulk of the increase from non-residential building projects, a business-research company reported Thursday.

The F. W. Dodge Group of McGraw-Hill Information Services Co. said that new construction projects were up 3% last month over October to an annualized value of $246.7 billion. Construction contracts rose 1% in October following three straight monthly declines.

Setting the pace for the November increase was the non-residential building sector, which rose a seasonally adjusted 7% to an annualized value of $80.9 billion, the report said.