Construction Starts Slide in September
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Year-to-date starts are holding up “not too badly,” says CMD.
NORCROSS, GA—Non-residential construction starts across the US declined 26.1% percent from August to September, CMD Group said Friday. The construction data provider says last month’s results continue a downward trend seen in previous months.
September’s new construction total, $15 billion, was off 41.8% year-over-year from September 2014. “There hasn’t been a worse September figure in the past decade,” according to Alex Carrick, chief economist at CMD.
The last time monthly starts were as weak was in February 2012, when CMD data show that new construction totaled $13.9 billion. At that time, however, “winter weather, with its customary inhibiting effects, was partly the cause,” says Carrick…
