Construction Falls Far Behind 2007's Pace

摘要

The dollar value of total new construction put-in-place through the first six months of this year reached $514 billion, or 5.4% less than the opening half of 2007, according to the U.S. Dept. of Commerce (see table). Industry growth started to slow after a strong March. In June, construction's seasonally adjusted annual rate of growth slipped 0.4% from the previous month and was 5.9% below June 2007's pace. Almost all of the slowdown in construction can be tied to the 27% drop in the value of new residential construction, which totaled just $183 billion during the first six months of this year compared to $251 billion for the same period in 2007.