Nonresidential building in October climbed 20 percent to $216.9 billion (annual rate). Manufacturing plant construction soared 147 percent, led by the start of these three projects – a $1.7 billion fertilizer plant in Iowa, a $1.7 billion natural gas processing plant in West Virginia, and a $1.5 billion gasification plant in Louisiana that will produce industrial liquid and gas products from petroleum coke.
Residential building, at $209.5 billion (annual rate), increased 3 percent in October. Single-family housing grew 2 percent, rebounding after slipping 2 percent in September. The dollar amount for single family housing in October was up 12 percent from the start of the year, as this category returned to the gradual yet steady upward trend that’s been present for most of 2013.
During the first 10 months of 2013, total construction starts on an unadjusted basis came in at $433.0 billion, up 4 percent from the same period a year ago. If the electric utility category is excluded from the year-to-date statistics, total construction starts for the first 10 months of 2013 would be up 13 percent.
Nonbuilding construction dropped 6 percent in October to $159.2 billion (annual rate). The decline was the result of a sharp downturn for electric utility construction, which fell 75 percent in October after experiencing a brief spike in activity during September.
By Mark S. Kuhar
Nonresidential Building Bounced Back After Losing Momentum In August, But Bridge Work Took A Tumble.
