Construction Starts Drop 23% in January
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Reed Construction Data (RCD) announced today that the January 2009 value of construction starts, excluding residential contracts, totaled $21.590 billion, 5.3% more than in January 2008. However, starts fell 23% from December, which was a decrease of almost 20% after allowing for the usual small seasonal decline in the first month of the year, reports Jim Haughey, chief economist for Reed Construction Data.