Nonresidential Building Strengthens for the Second Straight Month
NEW YORK – July 24, 2019 – New construction starts in June advanced 9% from the previous month to a seasonally adjusted annual rate of $832.7 billion, according to Dodge Data & Analytics. The increase followed the 10% gain reported for May, as total construction starts continued to strengthen following April’s subdued performance. By major sector, much of the lift in June came from a 16% jump for nonresidential building, which reflected the start of the $1.1 billion expansion to Terminal 5 at Chicago’s O’Hare International Airport, as well as sharp gains for office buildings, public buildings (detention facilities and courthouses), healthcare facilities, and warehouses. The other two major sectors registered moderate growth in June, with nonbuilding construction up 6% and residential building up 5%. Through the first six months of 2019, total construction starts on an unadjusted basis were $378.8 billion, down 8% from the same period a year ago. On a twelve-month moving total basis, total construction starts for the twelve months ending June 2019 were 4% below the amount for the twelve months ending June 2018.
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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