New Starts Continue Spotty Recovery
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New starts have been on an upward trend overall year to date.
NEW YORK CITY—The latest figures from Dodge Data & Analytics convey a mixed assortment of year-over-year and month-to-month growth rates. On the one hand, the rate of new construction starts in July was essentially the same as it was in June, while on the other hand, the month continued the generally upward trend seen thus far in 2015.
July’s Dodge Index reading was 133, the same as June’s, with both months registering a seasonally adjusted annual rate of $629.4 billion. A closer look behind July’s top-line numbers reveals that nonresidential building rose 2% over June, residential building maintained the strengthening trend seen over the past several months and the pace of nonbuilding construction—e.g., highways, bridges and energy infrastructure—continued to ease off after starts on very large projects early this year skewed the growth rate upward…
