Construction Watch
Single-family housing starts rose 18.2% in September to a seasonally adjusted annual rate of 1.452 million units. Reflecting the volatility of the construction market, however, single-family housing starts fell 7% in October to 1.35 million units. Many markets will continue to slide downhill for 2003, but the National Association of Home Builders (NAHB) expects the housing sector to taper off slightly, but still remain fairly robust.Total September construction activity rose to $836.7 billion, 0.6% above revised August 2002 spending of $831.5 billion, according to the U.S. Census Bureau.