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New Construction Starts Show Ups and Downs in July

At a seasonally adjusted annual rate of $629.4 billion, new construction starts in July were essentially unchanged from June’s pace, according to Dodge Data & Analytics. By major sector, nonresidential building showed slight improvement following its lackluster June performance, while residential building maintained the strengthening trend witnessed over the past several months.

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Summit Materials Acquires LeGrand Johnson

Summit Materials Inc. has completed the acquisition of LeGrand Johnson Construction Co., a vertically integrated construction materials company based in Utah and servicing the northern and central Utah, western Wyoming and southern Idaho markets.

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Housing Starts Hit Highest Level Since 2007

Led by a strong jump in single-family production, nationwide housing starts inched up 0.2 percent to a seasonally adjusted annual rate of 1.206 million units in July, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. This is the highest level since October 2007.

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Nonresidential Construction Still Steady

The nonresidential construction sector continues at a steady pace, a slight decline notwithstanding, according to the FMI Nonresidential Construction Index Report (NRCI) for Q3 2015. The Index reflects the observations and sentiments of a sampling of construction industry executives nationwide.

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Construction Unemployment Drops to 14-Year Low

Construction employment in July climbed to the highest level since February 2009, while the number of unemployed workers with construction experience shrank to a 14-year low, according to an analysis by the Associated General Contractors of America. Association officials cautioned that the diminishing pool of available qualified labor may be having an impact on the industry’s ability to meet growing demand.

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