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January Construction Climbs 9 Percent

The value of new construction starts climbed 9 percent in January to a seasonally adjusted annual rate of $621.0 billion, according to Dodge Data & Analytics. The increase for total construction was the result of an especially strong performance by the nonbuilding construction sector, which benefitted from the start of a massive liquefied natural gas terminal facility in Texas.

Read more: January Construction Climbs 9 Percent

Mixed Signals from Nonmetallic Minerals Index

The nonmetallic mineral products industry-leading index decreased 0.3 percent to 239.6 in January from a revised 240.3 in December and its six-month smoothed growth rate declined to 0.9 percent from a revised 2.1 percent in December.

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Severe Weather Knocks Housing Starts Down

Nationwide housing starts fell 2 percent to a seasonally adjusted annual rate of 1.065 million units in January, according to newly released data from the U.S. Commerce Department. This drop was mainly due to a 22.2 percent decrease in the Midwest.

 

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January Construction Jobs Report Confirms Momentum

The U.S. construction industry added 39,000 jobs in January, including 12,700 net new nonresidential jobs, according to the Bureau of Labor Statistics (BLS) preliminary estimate released Feb. 6. December’s estimate was revised downward from 48,000 to 44,000 net new jobs. With revisions, nonresidential construction expanded by 21,200 jobs in December.

Read more: January Construction Jobs Report Confirms Momentum