Dodge Data & Analytics announced today that new construction starts declined 11% in October to a seasonally adjusted annual rate of $696.3 billion. This is the third consecutive monthly drop in construction starts activity. “Concern over the health of the U.S. economy continues to play a key role in the pullback in starts over the past few months,” stated Richard Branch, Chief Economist for Dodge Data & Analytics. “However, solid real estate fundamentals (such as vacancy rates) in addition to stable public funding will continue to support a modest level of construction activity across both public and private projects.”