New Construction Starts in July Hold Steady Nationwide
At a seasonally adjusted annual rate of $629.4 billion, new construction starts in July were essentially unchanged from June’s pace, according to Dodge Data & Analytics. By major sector, nonresidential building showed slight improvement following its lackluster June performance while residential building maintained the strengthening trend witnessed over the past several months.
At the same time, nonbuilding construction in July continued to slide back from the exceptional activity witnessed earlier in the year that reflected the start of very large projects, including several massive liquefied natural gas terminals.