New construction starts through June fell 4% from the first half of 2016, to a year-to-date total of $342.7 billion, according to Dodge Data & Analytics. On a seasonally adjusted rate, total construction was up 4%. Through the first half of this year, the dollar value of total non-building construction starts was down 22% from the same period a year ago. Compared to the first half of last year, total nonresidential building starts were up 6%, while residential building starts held steady, says Dodge. “Massive airport terminal projects, including a $3.4-billion project at New York City’s LaGuardia airport, boosted the market,” says Robert Murray, chief economist for Dodge. The non-building market received a kick from a $1.3-billion natural gas-fired power plant in Florida and a $1.1-billion wind farm in Colorado. In June, the commercial building sector rose 23%, led by an 83% jump in new office building starts, Murray says.
Construction Starts Drop 4% in June
July 26, 2017