ConstructConnect announced today that the latest month’s volume of construction starts, excluding residential work, was $24.3 billion, a drop of one quarter (-24.8%) versus August’s figure of $32.4 billion.
Click here to read the complete September 2019 Industry Snapshot article, September Nonresidential Construction Starts One Quarter Lower Both M/M & YTD – below is a short excerpt.
In the latest month, the year-to-date volume of nonresidential starts was also off by about one quarter, -27.4% versus January-to-September of last year.
Reinforcing the story of softness in nonresidential construction starts in this year’s September was the contraction of -40.1% compared with September 2019’s figure.
Often the monthly year-over-year comparisons as we’ve proceeded through 2020 have suffered from a relative lack of mega projects (of $1 billion or more each) versus the wealth of such work that came to the fore last year.
But September of 2019 was not one of those months. It did not feature an outsized array of ultra-large groundbreakings. There’s no sugar coating the fact that September 2020’s record of nonresidential starts was just plain weak.
Click here to download the Construction Industry Snapshot Package – September 2020 PDF.
Click here for the Top 10 Project Starts in the U.S. – September 2020.
Click here for the Nonresidential Construction Starts Trend Graphs – September 2020.
Alex Carrick is Chief Economist for ConstructConnect. He has delivered presentations throughout North America on the U.S., Canadian and world construction outlooks. Mr. Carrick has been with the company since 1985. Links to his numerous articles are featured on Twitter @ConstructConnx, which has 50,000 followers.
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