Total Construction Starts Flat in November Year-To-Date
Residential Starts Up Six Percent Year-To-Date
Total construction starts, at $627.2 billion unadjusted, were essentially flat year-to-date, versus the same January-to-November time frame of 2015, Dodge Data and Analytics reports.
Through the first 11 months of 2016, nonresidential building (224.6 billion unadjusted) was up two percent, while the commercial group has climbed 10 percent.
Residential building ($275.4 billion, annual rate) has gained six percent year-to-date, single-family climbed seven percent, while multifamily housing registered a smaller hike of two percent.
Nonbuilding construction is down nine percent year-to-date.
Excluding the volatile manufacturing plant and electric utility/gas plant categories, total construction starts during this year's January-November period would be up four percent, Dodge Data reports.
"The path of expansion for construction activity has been hesitant in recent years, with gains followed by setbacks, and this has certainly been true during 2016," said Robert A. Murray, chief economist for Dodge Data and Analytics. "After a lackluster second quarter, total construction starts showed improvement during the third quarter, and have receded so far during the fourth quarter. On the plus side, the year-to-date amount for nonresidential building in dollar terms is now showing growth, joining the gains that have been reported for residential building over the course of 2016."