Construction Starts Show Double-Digit Gains in July
Total construction starts rose 17% in July to a seasonally adjusted annual rate of $1.2 trillion, according toDodge Construction Network. Nonbuilding starts drove the increase, rising 38%, due to the start of a singular large LNG facility. Residential starts rose 20%, while nonresidential building starts lost 6%.
Regionally, total construction starts in July rose in the South Atlantic, South Central, and West regions but fell in the Northeast and Midwest.