Construction Starts in September Slip 5 Percent Nationwide
The value of new construction starts in September dropped 5% from the previous month to a seasonally adjusted annual rate of $523.7 billion, according to Dodge Data & Analytics. Decreased activity was reported for both nonresidential building and housing, while the nonbuilding construction sector managed a partial rebound after its August decline.
Through the first nine months of 2015, total construction starts on an unadjusted basis were $497.4 billion, up 12% from the same period a year ago. Excluding the electric utility and gas plant category, which soared earlier in 2015 due to the start of several massive liquefied natural gas (LNG) terminals, total construction starts during the first nine months of 2015 would be up 5% compared to last year.