editorial

Construction Spending Ends Month, Year on High Note

The U.S. Census Bureau of the Department of Commerce reported that construction spending during December 2014 was estimated at a seasonally adjusted annual rate of $982.1 billion, 0.4 percent (±1.3 percent) above the revised November estimate of $978.6 billion. The December figure is 2.2 percent (±1.6 percent) above the December 2013 estimate of $961.2 billion.

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New Construction Starts Decrease

N ew construction starts in December retreated 16 percent to a seasonally adjusted annual rate of $568.2 billion, according to Dodge Data & Analytics. The decline follows the 13 percent increase reported for total construction starts in November, when activity reached its highest level in 2014.

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Market Signals Strong as Year Winds Down

Dodge Data & Analytics released its 2015 Dodge Construction Outlook, a mainstay in construction industry forecasting and business planning. The outlook was presented at the 76th annual Outlook Executive Conference in Washington, D.C.

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November Construction Jumps 13 Percent

At a seasonally adjusted annual rate of $677.8 billion, new construction starts in November climbed 13 percent from the previous month, according to Dodge Data & Analytics (formerly McGraw Hill Construction). Nonresidential building had a particularly strong month, lifted by the start of several unusually large projects, including two massive manufacturing plants and an airport terminal redevelopment. The nonbuilding construction sector also contributed to the latest month’s surge, boosted by a liquefied natural gas facility.

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Construction Starts Climb in September

New construction starts in September advanced 10 percent to a seasonally adjusted annual rate of $604.1 billion, according to McGraw Hill Construction, a division of McGraw Hill Financial. The increase followed an up-and-down pattern during the previous two months, and brought activity to its highest level so far during 2014.

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