Total construction starts dropped 1% in May to a seasonally adjusted annual rate of $902.8 billion, according to Dodge Data & Analytics. The brunt of the decline was borne by residential starts, while nonresidential and nonbuilding starts continued their recovery from the COVID-19 pandemic.
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Total construction starts fell 2% in April to a seasonally adjusted annual rate of $853.5 billion, according to Dodge Data & Analytics. Single family construction posted a sizeable decline following months of strong activity, while nonresidential building and nonbuilding starts both gained.
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Total construction starts rose 2% in March to a seasonally adjusted annual rate of $825.3 billion, according to Dodge Data & Analytics. A solid gain in nonresidential building starts fueled the March gain, while growth in residential starts was minuscule and nonbuilding starts fell outright.
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The Dodge Momentum Index, issued by Dodge Data & Analytics, moved 1.7% higher in March to 151.4 from the revised February reading of 148.8. According to the March data, the Index hit its highest level since the summer of 2018 as a result of an increase in institutional projects that entered the planning stage, and which came on the heels of a similar gain for the sector in February. While healthcare and lab projects continue to dominate institutional planning, March saw a more broad-based selection of project types including education and recreation buildings.
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Total construction starts fell 2% in February to a seasonally adjusted annual rate of $797.3 billion, according to Dodge Data & Analytics. Nonbuilding construction starts posted a solid gain after rebounding from a weak January, however, residential and nonresidential building starts declined, leading to a pullback in overall activity.
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The Dodge Momentum Index, issued by Dodge Data & Analytics, rose 7.1% in February to 149.0 from the revised January reading of 139.1. The institutional component of the Momentum Index jumped 26.3% during the month, while the commercial component was essentially flat.
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Total construction starts dropped 4% in January to a seasonally adjusted annual rate of $794.3 billion, according to Dodge Data & Analytics. Nonresidential building starts were flat in January, while nonbuilding starts dropped 10% and residential starts were 4% lower.
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The Dodge Momentum Index, issued by Dodge Data & Analytics, increased 3.1% in January. The commercial component of the Momentum Index moved 9.9% higher, offsetting an 11.7% decrease in the institutional component.
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Total construction starts lost 5% in December, falling to a seasonally adjusted annual rate of $784.3 billion according to a new report by Dodge Data & Analytics. Nonresidential building starts fell 11% during the month, while nonbuilding starts were 5% lower.
Read MoreThe Dodge Momentum Index, issued by Dodge Data & Analytics, jumped 9.2% in December to 134.6 from the revised November reading of 123.3. The gain in the commercial component of the Momentum Index was heartening even though the increase was mostly the result of a sizeable increase in warehouse planning.
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