New Construction Starts in December Decline 3 Percent
- Published: Friday, 10 February 2012 16:13
By Mark S. Kuhar
New construction starts in December fell 3 percent to a seasonally adjusted annual rate of $410.0 billion, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies. Nonresidential building in December held steady with the prior month, and residential building was able to show modest improvement. However, the nonbuilding construction sector lost momentum in December, as electric utilities retreated from the record pace witnessed earlier in the year.