LOS ANGELES An increase
in nonresidential construction starts wasnt enough to
offset a decline in public works in April, resulting in a
1-point slip in the benchmark Dodge Index.
Nonresidential building starts
rose 6 percent to an annualized $144.3 billion in April after a
"weak" March, according to the McGraw Hill Construction
division of New York-based McGraw Hill Financial Inc. But
public works construction fell 15 percent, as highway and
bridge construction were off 25 percent after a 31-percent
increase in March.
Total starts for the first four months of 2013 were down 5
percent year on year, due almost entirely to a decline in
electric utility starts.