Dodge: Total construction starts fall 9% in August
Abstract
Dive Brief: Total construction starts declined 9% in August to a seasonally adjusted rate of $1.25 trillion, according to a Dodge Data & Analytics report. The drop in starts follows a 48% spike in July that included the start of three large manufacturing plants and two LNG export facilities, according to the report. Dive Insight: Nonbuilding construction starts fell 36% in August to a seasonally adjusted annual rate of $278.8 billion. If the two multi-million dollar LNG projects were excluded from July's figures, August's nonbuilding starts would have increased 27%, according to the report. Nonresidential building starts jumped 7% in August to a seasonally adjusted annual rate of $569.6 billion, according to the report. Commercial starts surged 22% in August, with all categories posting an increase. Total construction starts increased in August in the Northeast, South Atlantic and West, but dropped in the Midwest and South Central regions.