New construction starts dropped 6% over the month in August to a seasonally adjusted annual rate of $807.1 billion, according to Dodge Data & Analytics. August’s decline breaks a string of three consecutive month-to-month gains.
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Construction Starts Increase; Highways Rise
At a seasonally adjusted annual rate of $849.6 billion, new construction starts in Julyadvanced 2% from the previous month, according to Dodge Data & Analytics. This marked the third consecutive monthly increase for total construction starts, following gains of 10% in May and 9% in June.
Read MoreConstruction Starts Fall Hard in April; Highways Up
The value of new construction starts in April fell 15% to a seasonally adjusted annual rate of $685.2 billion, pulling back following the 16% hike that was reported in March, according to Dodge Data & Analytics. Steep declines were registered by two of the three main construction sectors.
Read MoreMarch Construction Starts Surge 16%
New construction starts in March advanced 16% from the previous month to a seasonally adjusted annual rate of $809.2 billion, according to Dodge Data & Analytics. The substantial gain followed a lackluster performance during the first two months of 2019, as total construction starts in March were able to climb back to a level slightly above the average monthly pace during 2018.
Read MoreSingle-Family Housing Permits Decline
Over the first two months of 2019, the total number of single-family permits issued year-to-date (YTD) nationwide reached 116,189. On a year-over-year basis, this is a 6.2% decline over the February 2018 level of 123,871.
Read MoreConstruction Spending Up Slightly; Highways Rise
Construction spending during November 2018 was estimated at a seasonally adjusted annual rate of $1,299.9 billion, 0.8 percent (±1.3percent) above the revised October estimate of $1,289.7 billion. The November figure is 3.4 percent (±1.5 percent) above the November 2017 estimate of $1,257.3 billion.
Read MoreConstruction Starts Flat for Full-Year 2018
For 2018 as a whole, total construction starts increased a slight 0.3 percent to $789.0 billion, according to Dodge Data & Analytics. This came after 7 percent gains in both 2016 and 2017, as well as 11 percent to 14 percent gains from 2012 through 2015.
Read MoreNew Construction Starts in December Decline 10 Percent
New construction starts in December fell 10 percent to a seasonally adjusted annual rate of $708.9 billion, continuing to retreat after November’s 7 percent slide, according to Dodge Data & Analytics.
Read MoreConstruction Spending Down Slightly in October
The U.S. Census Bureau reported that construction spending during October 2018 was estimated at a seasonally adjusted annual rate of $1,308.8 billion, 0.1 percent (±1.5 percent) below the revised September estimate of $1,310.8 billion. The October figure is 4.9 percent (±1.6 percent) above the October 2017 estimate of $1,247.5 billion.
Read MoreConstruction Spending Predicted to Rise; Highways to Remain Flat
According to FMI’s First Quarter Construction Outlook Report, total engineering and construction spending for the United States is forecast to be 7 percent in 2018, compared to up 4 percent in 2017. Spending growth in 2018 is forecast to be led by residential and select nonresidential segments.
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