November 2019’s Nonresidential Construction Starts +7% Both Y/Y and YTD

ConstructConnect announced today that the latest month’s volume of construction starts, excluding residential work, was $34.3 billion (green shaded box, Table 3, below), -14.4% versus October’s figure of $40.1 billion (originally reported as $38.7 billion). November’s month-to-month decline was partly due to ‘seasonality’ (i.e., less favorable weather for construction as fall transitions to winter), but more on account of a shortage of ‘mega’ projects of $1 billion or more each. In October, there were three mega project starts with a combined estimated value of $6.1 billion. November’s inventory of such work was only two projects at $1.0 billion each (see Top 10 Project Starts in the U.S. - November 2019).

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