Dodge Monthly Outlook

January Construction Recedes 2 Percent
New York, NY     February 21, 2012

The value of new construction starts dropped 2% in January to a seasonally adjusted annual rate of $402.2 billion, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies.  Both nonresidential building and housing settled back from December, while the nonbuilding construction sector managed to register a modest gain with the help of a rebound for new electric utility starts.  On an unadjusted basis, total construction starts in January were reported at $27.0 billion, down 14% from the same month a year ago.  For the twelve months ending January 2012 versus the twelve months ending January 2011, which lessens the volatility present in one-month comparisons, total construction starts were down 3%.  More