ConstructConnect announced today that the latest month’s volume of construction starts, excluding residential work, was $32.6 billion, an increase of +2.3% versus March’s figure of $31.8 billion (originally reported as $30.8 billion).
Read the full April 2020 Industry Snapshot article here: April Nonresidential Construction Starts Sink Lower Ytd, -16.7%.
Amidst so much bad economic news, arising from the coronavirus pandemic, the slight increase in nonresidential starts month-to-month strikes a sweet chord.
With winter being left behind, April is the time of year when onsite building activity normally perks up nicely. Some of that usual springier step was apparent even in the current extraordinary circumstances.
View this information as an infographic.
Other time comparisons, however, provide less comfort. April 2020’s nonresidential starts level was -30.7% versus April 2019. April 2020 relative to the five-year average for April from 2015 to 2019 inclusive was -22.3%. And year-to-date nonresidential starts in the latest month were -16.7% when held up against January-April 2019. (Year to date in March, they had been -13.3%.)
Click here to download the Construction Industry Snapshot Package – April 2020 PDF.
Click here for the Top 10 Project Starts in the U.S. – April 2020.
Click here for the Nonresidential Construction Starts Trend Graphs – April 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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