New construction starts in June climbed 11 percent to a seasonally adjusted annual rate of $896.3 billion, according to Dodge Data & Analytics. The increase marked the second double-digit gain in a row, following the 15 percent hike that was reported for May. Highway and bridge construction was up 25 percent.
At a seasonally adjusted annual rate of $783.6 billion, new construction starts in May advanced 15 percent from April, according to Dodge Data & Analytics. The increase follows a 12 percent decline in April, and shows total construction activity reaching the highest level reported over the past eight months.
The U.S. Census Bureau reported put-in-place construction statistics for March 2018. Construction spending was estimated at a seasonally adjusted annual rate of $1,284.7 billion, 1.7 percent (±0.8 percent) below the revised February estimate of $1,306.4 billion.
Read more: Construction Spending Dips on Steel Tariffs; Highways Rise
At a seasonally adjusted annual rate of $783.6 billion, new construction starts in May advanced 15 percent from April, according to Dodge Data & Analytics. The increase follows a 12 percent decline in April, and shows total construction activity reaching the highest level reported over the past eight months.
New construction starts in March increased 11 percent from the previous month to a seasonally adjusted annual rate of $785.2 billion, according to Dodge Data & Analytics. The substantial gain followed modest declines in January (down 2 percent) and February (down 3 percent), and brings the pace of total construction starts to the highest level over the past six months.
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