Public Works & Nonresidential Building Fuel +15% Increase in May Construction Starts

摘要

At a seasonally adjusted annual rate of $783.6 billion, new construction starts in May advanced 15% from April, according to Dodge Data & Analytics. The increase follows a 12% decline in April, and shows total construction activity reaching the highest level reported over the past eight months. The lift in May came from substantial gains for nonbuilding construction, up 39%; and nonresidential building, up 18%. The Dodge release said both sectors benefitted from the start of several very large projects.