The pace of construction has stayed fairly steady in the first half of 2018, despite the continued uncertainty that changing Trump administration tariffs on steel and aluminum have injected into the marketplace. According to Dodge Data & Analytics, construction starts are down 3% year-to-date, but as of May, they remain 1% above the level of one year ago. Total starts are expected to rise 2% to 3% by the end of the year.
“On balance, the pace of total construction starts is staying close to the levels achieved over the past year, when activity grew 5%,” says Robert Murray, Dodge chief economist and vice president. “The construction industry is facing increased headwinds, such as higher material prices and the recent pickup in interest rates, but these are not yet having much of a negative impact on the pace of construction starts.”