Total construction starts fell 6% in September to a seasonally adjusted annual rate of $1.1 trillion, according to Dodge Construction Network. Nonbuilding starts fell 11%, residential starts were down 1%, while nonresidential building starts were down 6% in September. On a year-to-date basis through September, total construction starts were up 2% from the first nine months of 2023. Residential starts…
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Single-Family Starts Trend Higher in September
With the Federal Reserve beginning an easing of monetary policy and builder sentiment improving, single-family starts posted a modest gain in September while multifamily construction continued to weaken because of tight financing and an ongoing rise in completed apartments. Overall housing starts decreased 0.5% in September to a seasonally adjusted annual rate of 1.35 million units, according to a report…
Read MoreDodge Momentum Index Decreases 4.2% in September
The Dodge Momentum Index (DMI), issued by Dodge Construction Network, decreased 4.2% in September to 208.6 (2000=100) from the revised August reading of 217.7. Over the month, commercial planning contracted 7.8% and institutional planning improved 5.2%. “Despite this month’s decline, the Dodge Momentum Index remains at very robust levels”, stated Sarah Martin, associate director of forecasting at Dodge Construction…
Read MoreSullivan Touts Rate Cuts as Benefit to Construction Economy
Ed Sullivan, the chief economist and senior vice president of market intelligence for the Portland Cement Association (PCA) – which represents America’s cement manufacturers – said the Federal Reserve’s recent move to lower interest rates coupled with easing inflation signals a significant retreat in interest rate levels by the end of next year … all to the benefit of construction activity.
Read MoreConstruction Employment Spikes in September; 25,000 Jobs Added
The construction industry added 25,000 jobs on net in September, according to an Associated Builders and Contractors (ABC) analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment is up by 238,000 jobs, an increase of 3.0%. Nonresidential construction employment increased by 17,900 positions on net, with growth in two of the three…
Read MoreConstruction Spending Flat in August
According to the U.S. Census Bureau, construction spending during August 2024 was estimated at a seasonally adjusted annual rate of $2,131.9 billion, 0.1% (±1.2%) below the revised July estimate of $2,133.9 billion. The August figure is 4.1% (±1.6%) above the August 2023 estimate of $2,047.4 billion. During the first eight months of this year, construction spending amounted to $1,428.5 billion,…
Read MoreConstruction Starts Rise 6% in August
Total construction starts rose 6% in August to a seasonally adjusted annual rate of $1.2 trillion, according to Dodge Construction Network. Residential starts rose 5%, nonbuilding starts gained 17%, while nonresidential buildings fell 2% in August.
Read MoreSatyam Panday of S&P Global Ratings Offers Economics Report
Satyam Panday, chief U.S. and Canada Economist, S&P Global Ratings, said in his Q4 2024 U.S. Economic Outlook, that The Fed looks set to embark on a steady series of interest-rate cuts. The report details economic growth projections, labor market trends, inflation and monetary policy, potential changes to our baseline forecasts, recession probability, leading indicators and a few additional topical…
Read MoreSingle-Family Starts Up in August
Single-family starts posted a solid gain in August on robust demand and moderating mortgage rates even as builders continue to grapple with challenges related to lot and labor shortages and elevated prices for many building materials.
Read MoreDodge Momentum Index Rises 2.9% in August
The Dodge Momentum Index (DMI), issued by Dodge Construction Network, increased 2.9% in August to 220.4 (2000=100) from the revised July reading of 214.2. Over the month, commercial planning expanded 1.9% and institutional planning improved 5.7%. “Owners and developers continued to prime the planning queue in August, ahead of next year’s anticipated stronger market conditions,” stated Sarah Martin, associate…
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