Total construction starts fell 9% in June to a seasonally adjusted annual rate of $1 trillion, according to Dodge Construction Network. Nonresidential starts led the downturn, falling 14%. Nonbuilding starts fell 9%, and residential starts lost 4%. Highway and bridge starts also gained 19%. Year-to-date through June 2023, total construction starts were 5% below that of 2022. While residential and…
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