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.
Dodge Data & Analytics is North America’s leading provider of commercial construction project data, market forecasting & analytics services and workflow integration solutions for the construction industry. Building product manufacturers, architects, engineers, contractors, and service providers leverage Dodge to identify and pursue unseen growth opportunities that help them grow their business. On a local, regional or national level, Dodge empowers its customers to better understand their markets, uncover key relationships, seize growth opportunities, and pursue specific sales opportunities with success. The company’s construction project information is the most comprehensive and verified in the industry.
As of April 15th, Dodge Data & Analytics and The Blue Book -- the largest, most active network in the U.S. commercial construction industry -- combined their businesses in a merger. The Blue Book Network delivers three unparalleled databases of companies, projects, and people.
Dodge and The Blue Book offer 10+ billion data elements and 14+ million project and document searches. Together, they provide a unified approach for new business generation, business planning, research, and marketing services users can leverage to find the best partners to complete projects and to engage with customers and prospects to promote projects, products, and services. To learn more, visit: construction.com and thebluebook.com.
Eric Becker | 104 West Partners | firstname.lastname@example.org
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