Wednesday, November 23, 2011

McGraw-Hill Construction - Forecasts & Trends

The value of new construction starts advanced 12% in October to a seasonally adjusted annual rate of $469.8 billion, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies. Much of the upward push came from nonresidential building, which was lifted by the start of a massive manufacturing project as well as by broader strengthening across several structure types. Also contributing to the total construction gain in October was a slight increase for the housing sector. Meanwhile, nonbuilding construction in October stayed even with its elevated September amount, helped by the start of several large electric power plants. Through the first ten months of 2011, total construction on an unadjusted basis came in at $355.6 billion, down 3% from the same period a year ago.

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