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Total construction starts rose 10 percent in September to a seasonally adjusted annual rate of $889.7 billion, according to Dodge Construction Network. Nonresidential building starts rose 15 percent.
HAMILTON, NJ - Total construction starts rose 10% in September to a seasonally adjusted annual rate of $889.7 billion, according to Dodge Construction Network. All three sectors improved: nonresidential building starts rose 15%, residential starts moved 9% higher, and nonbuilding starts increased by 6%.
“Construction starts have struggled over the last three months as concerns over rising prices, shortages of materials, and scarce labor led to declines in activity,” stated Richard.