Construction Starts Rise 12.5% in November
Reed Construction Data announced that the value of November construction starts rose 12.5 percent to $25 billion, according to its Dec. 17 report. Starts were up 2 percent year-over year and 4.3 percent year-to-date.
In November, commercial starts jumped 57.5 percent, after a modest 2.6 percent increase in October. Year-to-date, commercial starts were 33.8 percent higher than in the same period last year, with retail, private office and hotel starts showing the most growth, according to the report. Continuing to fluctuate, industrial and institutional building starts sank in November after rising in October.