THE ECONOMY
From Times Staff and Wire Reports
Construction Down in May: Demand for housing and other construction stayed firm in May, although it could not equal the big gains posted during April, according to a widely followed index. The F. W. Dodge Division of McGraw-Hill Inc., which tracks the ups and downs of the construction industry, reported that contracting was down 5% in May compared to April on a seasonally adjusted annual basis. However, it was still running ahead of the dismal first quarter of 1991.
