Institutional Building Leads Nonresidential Construction To 11 Percent Surge In May

Nonresidential building in May jumped 11 percent to $164.7 billion, registering its strongest performance so far in 2004, according to a report by McGraw-Hill Construction, New York.

The sizeable increase, which outweighed a modest retreat for housing and a more substantial decline for nonbuilding construction, contributed in part to a surge in construction.

At a seasonally adjusted annual rate of $556.1 billion, new construction starts in May were up 1 percent compared to the

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