Construction Starts Step Back in September

construction site

Total construction starts dipped 18% in September to a seasonally adjusted annual rate of $667.7 billion, essentially taking back August’s gain, according to Dodge Data & Analytics. While some of this decline is certainly payback from several large projects entering start in August, the drop in activity brought total construction starts below levels seen in June and July. Nonresidential starts fell…

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Construction Starts Post Solid Gain in August

Total construction starts rose 19% in August to a seasonally adjusted annual rate of $793.3 billion. Gains were seen in all three major building sectors: nonresidential building starts rose 16% and residential building climbed 12%, while nonbuilding construction jumped 40% over the month. While large projects certainly influenced the August gains, removing those projects would still have resulted in a gain for the month.

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Construction Starts Show Additional Gains in June

Total construction starts increased 6% in June to a seasonally adjusted annual rate of $641.4 billion. This marks the second consecutive monthly gain in construction starts following the COVID-19 induced declines in March and April. In June nonresidential building starts gained 6% and starts in the nonbuilding sector moved 27% higher. Residential starts, by contrast, fell 6% during the month.

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Construction Starts Post Small Gain in May

Total construction starts rose 3% from April to May to a seasonally adjusted annual rate of $595.1 billion, following a 25% decline the previous month. Several large nonresidential building projects broke ground in May resulting in the gain. Removing those large projects from the statistics would have resulted in no change in starts over the month. In May, nonresidential buildings increased 8%,…

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Construction Starts Show Sharp Contraction in April

Total construction starts declined 25% from March to April to a seasonally adjusted annual rate of $572.2 billion as COVID-19 and the economic recession hit the construction sector. In April, nonresidential building starts fell 37% from March, while residential dropped 25%. The decline in nonbuilding construction starts was more tepid, falling just 5% due to strong activity in streets and bridges.

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