The value of new construction wrapped up a record year in 1984 and is in a position to follow up with another one in 1985, F.W. Dodge reported. However, the value of new contracts during December declined 6 percent, after seasonal adjustment, to $14 billion. December was a ”typical month in an exceptional year,” said George A. Christie, president and chief economist for Dodge, a division of McGraw-Hill Information Systems Co. The seasonally adjusted Dodge index, which uses the value of contracts in 1977 as a base of 100, fell to 148 in December from 158 in November. For 1984, the Dodge index averaged 150–a new high. The value of new construction started during 1984 was a record $209.9 billion, with commercial and industrial building surging 24 percent.
