editorial

November Construction Jumps 13 Percent

At a seasonally adjusted annual rate of $677.8 billion, new construction starts in November climbed 13 percent from the previous month, according to Dodge Data & Analytics (formerly McGraw Hill Construction). Nonresidential building had a particularly strong month, lifted by the start of several unusually large projects, including two massive manufacturing plants and an airport terminal redevelopment. The nonbuilding construction sector also contributed to the latest month’s surge, boosted by a liquefied natural gas facility.

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Market Signals Strong as Year Winds Down

Dodge Data & Analytics released its 2015 Dodge Construction Outlook, a mainstay in construction industry forecasting and business planning. The outlook was presented at the 76th annual Outlook Executive Conference in Washington, D.C.

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August Construction Falls 9 Percent

At a seasonally adjusted annual rate of $540.6 billion, new construction starts in August dropped 9 percent, according to McGraw Hill Construction, a division of McGraw Hill Financial. The decline followed July’s elevated volume, the strongest so far in 2014, and brought activity back to the average pace reported during the first seven months of this year.

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Construction Starts Climb in September

New construction starts in September advanced 10 percent to a seasonally adjusted annual rate of $604.1 billion, according to McGraw Hill Construction, a division of McGraw Hill Financial. The increase followed an up-and-down pattern during the previous two months, and brought activity to its highest level so far during 2014.

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Highway Construction Drops Again; Total New Construction Rises

Highway construction work dropped sharply in June and July, wiping out market gains from the previous seven months amid uncertainty over the federal aid highway program and the Highway Trust Fund, according to the American Road & Transportation Builders Association. The decline can be specifically attributed to longterm congressional inaction on deficiencies in the Highway Trust Fund, and Congress’s inability to agree on a new highway bill. President Obama has signed a $10.8 billion temporary measure that will fund highway and bridge repairs for the next 10 months, however that is not enough to give the highway construction market the long-term confidence it needs.

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