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May Construction Retreats 5 Percent; Highways Up

At a seasonally adjusted annual rate of $513.4 billion, new construction starts in May dropped 5 percent from the previous month, according to McGraw Hill Construction, a division of McGraw Hill Financial. The reduced pace for total construction starts reflected a moderate loss of momentum for nonresidential building and housing, while the nonbuilding construction sector eased back slightly.

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Housing Production Falls 6.5 Percent in May

Declines in both single- and multifamily starts pushed nationwide housing production down 6.5 percent in May to a seasonally adjusted annual rate of just over 1 million units, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. However, single-family permits, which can be an indicator of future building activity, rose 3.7 percent.

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Survey Finds Drivers Frustrated

Ahead of the summer driving season, a new survey from the Asphalt Pavement Alliance (APA) finds drivers are increasingly frustrated with the state of U.S. roads. The national survey found that drivers prefer well-maintained, safe, and smooth roadways; moreover they understand these qualities require periodic maintenance and financial investment.

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Volvo Launches New Products at Florida Event

Volvo Construction Equipment, at a special media event, introduced three new products at Flagler Construction Equipment in Tampa. Flagler is the exclusive Volvo dealer in Florida.

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