ArKt N s LACO.

Construcfion Activiry in 1957 fofqfs R.ecord $4;7.3 Billion

Outlays for new construction in 1957 totaled $47.3 billionabout 3/o above the record $46.1 billion spent in 1956, according to preliminary estimates prepared jointly by the U. S. Department of Commerce and the U. S. Department of Labor. Expenditures were at peak levels in 1957 for a large majority of the major types of private and public construction, but there was a narrowing of year-to-year gains for some important components.

Primarily because of the decline in private dwelling unit construction, last year's overall rate of increase in total construction activity was the smallest in the 12 years since the end of World War II. The physical volume of total new construction in 1957 (expenditures adjusted for price changes) was about the same as in 1956. However, when private residential building is excluded, the constant dollar value (in 1947-+9 prices) was up 3/o. The record $33.3 billion spent for private construction in 1957 was only slightly above the 1956 figure, whereas public outlays rose 9/o to a new high of $13.9 billion. New private housing activity, still influenced by a shortage of mortgage funds, declined by IO/o in 1957 to $12.2 billion, about the same relative decrease as occurred in 1956. By mid1957, however, the 2-year slide in private residential construction appeared to be checked, and outlays (seasonally adjusted) rose steadily through the end of the year, largely on account of the rise in apartment building. Declines from 1956 in spending for work on new dwelling units narrowed from l3/o in the first half of 1957,to lo/o in the third quarter, and 5o/o in the fourth quarter.

Fresno.-Pacific Telephone & Telegrapl-r took out a city permit for a $5 million four-story central office building at Kern and IJ streets in the center of town.