New construction climbed 12% in October to $469.8 billion, reports McGraw-Hill Construction. Gains came from nonresidential building and a slight increase in the housing sector, while nonbuilding construction stayed flat. Through the first ten months of 2011, total construction was $355.6 billion, down 3% from the same period a year ago. “Construction start statistics from August through October have, on balance, shown improvement,” said Robert Murray, McGraw-Hill’s vice president of economic affairs. “Much of this has been related to the start of very large projects, such as October’s huge manufacturing facility and several electric power plants. However, more sustained expansion for construction starts will require a supportive economic environment, which has yet to emerge.” For the full report, CLICK HERE.McGraw-Hill: Construction Up 12% in October
New construction climbed 12% in October to $469.8 billion, reports McGraw-Hill Construction. Gains came from nonresidential building and a slight increase in the housing sector, while nonbuilding construction stayed flat. Through the first ten months of 2011, total construction was $355.6 billion, down 3% from the same period a year ago. “Construction start statistics from August through October have, on balance, shown improvement,” said Robert Murray, McGraw-Hill’s vice president of economic affairs. “Much of this has been related to the start of very large projects, such as October’s huge manufacturing facility and several electric power plants. However, more sustained expansion for construction starts will require a supportive economic environment, which has yet to emerge.” For the full report, CLICK HERE.
