U.S. construction starts dipped in March by 1% to a seasonally adjusted annual rate of $1.06 trillion, compared with the February level, Dodge Construction Network reported.
In its latest monthly construction starts report, released on April 23, Dodge said that among the three main construction sectors, nonbuilding construction, which includes infrastructure work, rose 7% in March, to a rate of $278.8 billion, but nonresidential building dropped 9%, to $398.5 billion. Residential building edged up 1%, to $394.8 billion, the report said.