ConstructConnect announced today that the latest month’s volume of construction starts, excluding residential work, was $28.9 billion, a gain of +4.3% versus October’s $27.8 billion (originally reported as $25.9 billion).
Click here to read the complete November 2020 Industry Snapshot article, November Nonresidential Construction Starts Recorded Some Welcome Upticks – below is a short excerpt.
As for the volume of total nonresidential starts in November of this year versus the same month last year, it was -28.7%. A similar decline has also been seen on a year-to-date basis, -26.6% compared with all but the last month of 2019.
Nevertheless, it’s encouraging that the two major subcategories of nonresidential work—i.e., nonresidential building activity and heavy engineering/civil undertakings—both recorded month-to-month gains in November, +3.8% and +4.9% respectively. Finally, justifications for some optimism concerning the economic and construction outlooks are emerging.
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Click here to download the Construction Industry Snapshot Package – November 2020 PDF.
Click here for the Top 10 Project Starts in the U.S. – November 2020.
Click here for the Nonresidential Construction Starts Trend Graphs – November 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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