Construction Contracts Off: The value of new...

Construction Contracts Off: The value of new construction contracts fell 3% in August from the previous month, reflecting a steep drop in the office building sector and continued weakness in housing, the F. W. Dodge division of McGraw-Hill said. The Dodge index, which uses 1982 as its base of 100, fell to 146 in August, compared to July’s 150 level. The seasonally adjusted indicator of future construction activity represents the value of newly started projects of all kinds.