January Construction Starts Rise 2 Percent

Friday, March 15, 2019

Washington, DC -

The value of new construction starts in January advanced two percent compared to December 2018, reaching a seasonally adjusted annual rate of $722.5 billion, according to Dodge Data & Analytics. The slight gain followed the loss of momentum that was reported toward the end of 2018, with total construction declines of seven percent in November and 10 percent in December.

Nonresidential building in January was $245.2 billion, annual rate, up one percent following a 13 percent slide in December. The commercial building categories as a group rose four percent in January. Office construction picked up the pace, climbing 18 percent. Hotel construction in January rose 10 percent.

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