Dive summary:
- Numbers compiled by the Dodge analysts as McGraw Hill Construction show that non-building construction and non-residential building starts were down enough in the first five months of the year to drag a 32% rise in new-home construction into a 3% overall reduction from the 2012 period.
- At the heart of the downturn was a big drop in utility work from 2012, without which the 2013 period would have come in with a 10% increase, according to the company's chief economist, Robert Murray.
- The other news from Dodge data was that the Momentum Index, which is a calculation of planning for non-residential buildings, fell back 1.5% in June after climbing for six straight months.
From the article:
The "non-residential building market is subject to occasional setbacks," says Kim Kennedy, Dodge economist. ...