Dodge Data & Analytics reported today that total construction starts increased 6% in June to a seasonally adjusted annual rate of $641.4 billion. This marks the second consecutive monthly gain in construction starts following the COVID-19 induced declines in March and April. In June nonresidential building starts gained 6% and starts in the nonbuilding sector moved 27% higher. Residential starts, by contrast, fell 6% during the month.
Read MoreDodge Data & Analytics’ Dodge Momentum Index dropped 6.6% in June. The institutional component of the Momentum Index fell 11.7% while the commercial component declined by 3.5%.
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Demand for design services in May saw few signs of rebounding following a record drop in billings the month prior, according to a new report from The American Institute of Architects (AIA). “A large portion of the design and construction industry remains mired in steep cutbacks as many businesses and organizations are still trying to figure out what actions make sense in this uncertain economic environment,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “There are growing signs of activity beginning to pick up in some areas, but others are seeing a pause as pandemic concerns continue to grow.”
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Total construction starts rose 3% from April to May to a seasonally adjusted annual rate of $595.1 billion, following a 25% decline the previous month, according to a recent Dodge Data & Analytics report. Several large nonresidential building projects broke ground in May resulting in the gain. Removing those large projects from the statistics would have resulted in no change in starts over the month. In May, nonresidential buildings increased 8%, while residential building starts rose 4%. Nonbuilding starts, however, declined 4% during the month.
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Construction spending plunged in April as governmental agencies and project owners shut down ongoing work and canceled projects that were about to break ground, according to an analysis by the Associated General Contractors of America of government data released June 1. Association officials warned that further steep declines are inevitable for public projects unless the federal government acts quickly to invest in needed infrastructure and shore up crumbling state and local budgets.
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While the Dodge Momentum Index may move lower in the future, its present level continues to suggest that there are enough projects entering planning to allow construction to begin a modest recovery in the third quarter.
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The Fenestration and Glazing Industry Alliance (FGIA) has released the “FGIA 2019/2020 Study of the U.S. Market for Windows, Doors and Skylights.” This bi-annual report delivers timely information on residential and non-residential market trends and product relationships for both residential and non-residential fenestration products.
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Demand for design services in April saw its steepest decline on record, according to the latest Architecture Billings Index from The American Institute of Architects (AIA).
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Dodge Data & Analytics announced today that total construction starts declined 25% from March to April to a seasonally adjusted annual rate of $572.2 billion as COVID-19 and economic recession hit the construction sector. In April, nonresidential building starts fell 37% from March, while residential dropped 25%. The decline in nonbuilding construction starts was more tepid, falling just 5% due to strong activity in streets and bridges.
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The American Institute of Architects (AIA) announced today that it is releasing a new re-occupancy assessment tool that provides design strategies for limiting exposure to COVID-19 in buildings, schools, offices, stores and more buildings.
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