New Construction Starts in December Pull Back 16% Nationwide
New construction starts in December retreated 16% to a seasonally adjusted annual rate of $568.2 billion, according to Dodge Data & Analytics.
The decline follows the 13% increase reported for total construction starts in November, when activity reached its highest level in 2014, with the lift coming from several exceptionally large projects. Those included a massive lithium ion battery manufacturing plant, an airport terminal redevelopment program and a liquefied natural gas terminal.