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In October, total construction starts rose eight percent to a seasonally adjusted annual rate of $1.12 trillion, with non-residential building starts gaining nine percent and non-building starts rising 26 percent; however, residential starts fell by three percent.
According to a new Dodge Construction Network report, total construction starts rose 8% in October to a seasonally adjusted annual rate of $1.12 trillion. This is a rebound following two consecutive months of decline. Last month, nonresidential building starts gained 9% and nonbuilding starts.