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.
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.
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.
By Mark S. Kuhar
New Construction Starts In July Decreased 2 Percent, While Highway Construction Dropped 22 Percent.
New construction starts in July decreased 2 percent to a seasonally adjusted annual rate of $479.1 billion, according to McGraw Hill Construction, a division of McGraw Hill Financial. The nonbuilding construction sector, comprised of public works and electric utilities, pulled back in July after being lifted in June by several very large projects. At the same time, nonresidential building strengthened in July, regaining some of the upward momentum that began to take hold in April and May, while residential building in July showed further growth.
