Dodge Data & Analytics, New York, has reported construction starts surged 37% in November. Total construction starts in November were down 1% compared with November 2018.
“The presence or absence of large projects continues to add immense volatility to the monthly data,” says Richard Branch, chief economist for Dodge Data & Analytics. “However, the underlying trend for the year remains intact—that construction starts are settling back following nine consistent years of growth.”
Nonresidential building construction increased 61% in November as several large projects began. Commercial construction starts climbed 23% in November, and institutional starts rose 27%.
Residential building construction basically were unchanged in November. Single-family housing dropped 8%, and multifamily construction rose 20%.
Nonbuilding construction increased 82% in November.
During the first 11 months of 2019, nonresidential building was down 3% compared with the same time period in 2018. Residential building decreased 4%, and nonbuilding construction rose 6%.
