Strong Volume of Public Works Lifts Total Construction to Third Straight Gain
NEW YORK – August 22, 2019 – At a seasonally adjusted annual rate of $849.6 billion, new construction starts in July advanced 2% from the previous month, according to Dodge Data & Analytics. This marked the third consecutive monthly increase for total construction starts, following gains of 10% in May and 9% in June. By major sector, nonbuilding construction led the way in July with a 24% hike, boosted by several large public works and electric utility/gas plant projects. These included the $2.7 billion automated people mover system that’s part of the Landside Access Modernization Program at Los Angeles International Airport, a $2.5 billion segment of the Sabine Pass Liquefaction Project in Louisiana, a $1.8 billion natural gas liquids pipeline in Texas, and a $934 million water purification plant expansion in Texas. Nonresidential building in July settled back 4%, following a 16% jump in June that included the start of the $1.1 billion Terminal 5 expansion at Chicago’s O’Hare International Airport. Residential building in July slipped 6%, as multifamily housing retreated from its elevated June amount. Through the first seven months of 2019, total construction starts on an unadjusted basis were $459.3 billion, down 6% from the same period a year ago.
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Cailey Henderson | 104 West Partners | firstname.lastname@example.org
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