December’s Nonresidential Construction Starts -5% M/M but +9% YTD

ConstructConnect announced today that the latest month’s volume of construction starts, excluding residential work, was $34.0 billion (green shaded box, Table 3, below), -5.3% versus November’s figure of $35.9 billion (originally reported as $34.3 billion). December’s month-to-month decline was in line with usual ‘seasonality.’ Long-term, from the last full month of fall (November) to the month that kicks off winter (December), total nonresidential starts have fallen on average -5.0%. December’s drop would have been steeper without the support of several large engineering projects. Four mega projects (i.e., of $1.0 billion or more each) arose in the latest month, summing to $5.0 billion. Three of the four were heavy engineering jobs (see Top 10 Project Starts in the U.S. - December 2019).

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