Nonresidential Construction Starts Up 34% in June
Reed Construction Data announced that the dollar value of nonresidential construction starts in June surged 34 percent compared to May. Nonresidential starts in June reached $32.0 billion, marking one of the strongest in RCD’s database, according to a Reed release.
The one-third increase was an outsized gain, even after taking into account seasonality. RCD’s long-term average May-to-June increase has been 4.5 percent, according to Reed.
Looking at nonresidential market segments, the month-to-month leaders among major non-residential construction categories were commercial, up 39 percent, and heavy engineering, up 34.7 percent. Institutional work was also up 3.6 percent.
Year-over-year, the June starts were 14.4 higher than June 2013. The year-to-date level of total non-residential construction starts, at $138.0 billion, was up 2.4 percent when compared with the same January to June period of 2013, according to Reed.