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July Construction Recedes 2 Percent

By Mark S. Kuhar

New Construction Starts In July Decreased 2 Percent, While Highway Construction Dropped 22 Percent.

New construction starts in July decreased 2 percent to a seasonally adjusted annual rate of $479.1 billion, according to McGraw Hill Construction, a division of McGraw Hill Financial. The nonbuilding construction sector, comprised of public works and electric utilities, pulled back in July after being lifted in June by several very large projects. At the same time, nonresidential building strengthened in July, regaining some of the upward momentum that began to take hold in April and May, while residential building in July showed further growth.

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May Construction Gains 5 percent

By Mark S. Kuhar

At a seasonally adjusted annual rate of $495.7 billion, new construction starts in May advanced 5 percent from the previous month, according to McGraw Hill Construction, a division of McGraw Hill Financial. Much of the upward lift came from nonresidential building, which registered moderate growth for the second month in a row after its sluggish performance at the outset of 2013. Smaller gains in May were reported for housing and nonbuilding construction (public works and electric utilities).

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April Construction Slips One Percent

By Mark S. Kuhar

New construction starts in April settled back 1 percent to a seasonally adjusted annual rate of $473.0 billion, according to McGraw Hill Construction, a division of McGraw Hill Financial.The public works sector retreated from its elevated pace in March, and housing experienced a slight loss of momentum. Highway and bridge construction in April retreated 25 percent.

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