Fed Reports Construction Slowdown

Building contracts declined 2% forMinnesota and North and South Dakota for the threemonths ending with August, according to the survey.The report cites a Minnesota contractor, who says thatbuilding activity is level with a year ago and dryweather this fall has helped some constructionprojects finish ahead of schedule.

Homebuildingremains soft, as housing units are down 10%. ATwin Cities mortgage consultant reports that mortgageactivity id down from a year ago, according to thereport.