June Construction Starts Climb 9%

摘要

New construction starts in June advanced 9% from the previous month to a seasonally adjusted annual rate of $832.7 billion, according to Dodge Data & Analytics. The increase followed the 10% gain reported for May, as total construction starts continued to strengthen following April's subdued performance. By major sector, much of the lift in June came from a 16% jump for nonresi-dential building. The other two major sectors registered moderate growth in June, with nonbuilding construction up 6% and residential building up 5%. Highway and bridge construction in June retreated 5%. "On balance, the pace of construction starts has been sluggish so far in 2019, as activity has been generally lower than the healthy amount reported during the first half of 2018," stated Robert A. Murray, chief economist for Dodge Data & Analytics. "The improved activity during May and June suggests that the gap relative to last year should narrow in coming months.