Construction Outlook Revised Down: Construction contracts will...

Construction Outlook Revised Down: Construction contracts will decline 7% this year, according to a McGraw-Hill Information Services Co. forecast. Contracts in 1990 are expected to total $247.07 billion, compared to $266.96 billion last year. The report also predicted that housing starts will tumble 11% to 1.38 million units, commercial and manufacturing building will drop 16% and public works construction will decline 1%. However, George A. Christie, McGraw-Hill’s chief economist, said the worst appears to be over. “Every decline has its limit,” he said.