New construction starts jumped 23% to $482.4 billion in March, reports McGraw-Hill Construction. The gains came from a sharp increase in electric utility construction, while public works and housing showed only modest improvements. Nonresidential building lost further momentum. For the first three months of 2012, total construction starts were $94.2 billion or 3% less than a year ago. “Aside from the lift coming from electric utilities, March statistics show that activity continues to hover within a set range,” said McGraw-Hill Construction economist Robert Murray. “Construction can still be viewed as struggling to see renewed expansion take hold in a sustained and broad-based manner.” For the full report, CLICK HERE.
