Total construction starts jumped 27 percent in December to a seasonally adjusted annual rate of $1.18 trillion, according to Dodge Construction Network. In December, nonresidential building starts increased 51 percent, nonbuilding starts increased 30 percent and residential starts rose less than 1 percent. Across 2022, construction starts were 15 percent higher. Nonresidential rose 38 percent, nonbuilding was up 19 percent and residential was down 3 percent.
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