New Construction Starts in April Advance 10% Nationwide
The value of new construction starts in April increased 10% from the previous month to a seasonally adjusted annual rate of $698.7 billion, according to Dodge Data & Analytics.
The nonresidential building sector came in particularly strong, lifted by the inclusion of two massive projects as April starts—an $8.1-billion petrochemical plant in Louisiana and a $1.2-billion office/retail high-rise in New York City. Meanwhile, residential building slipped in April, and nonbuilding construction lost momentum as the result of a pullback by public works.