New Construction Starts in August Fall 11% Nationwide
New construction starts in August dropped 11% to a seasonally adjusted annual rate of $554.5 billion, according to Dodge Data & Analytics. Declines were reported for each of construction’s three main sectors—nonresidential building and housing pulled back from their improved July pace, while nonbuilding construction continued to recede from the heightened performance witnessed earlier in 2015.
During the first eight months of 2015, total construction starts on an unadjusted basis were $446.1 billion, up 15% from the same period a year ago. If the volatile electric-utility and gas plant category is excluded, total construction starts during the first eight months of 2015 would be up a more moderate 7% relative to last year.