Construction contracting is expected to fall 4%...

Construction contracting is expected to fall 4% in 1987, according to McGraw-Hill Information Systems. Nationwide, it is expected to be valued at $236.1 billion for the year. Economists have lowered earlier construction contracting forecasts in the face of higher interest rates. The company said total commercial and industrial construction will fall 10% to $46.8 billion, while office construction will be off by 20% to $17.8 billion. Housing starts for the year are expected to be down 10% as consumers wait for interest rates to recede. Public works construction, however, is expected to increase by 1%.