Non-residential construction starts declined 6.9 percent from November to December in the U.S., according to a new report from construction data provider CMD. December’s new construction total, $22.2 billion, was 7 percent lower than December 2014.
The retreat in construction starts was only slightly higher than the construction activity typical of November to December. However, compared to the five-year average for December from 2010 to 2014, starts increased 9.2 percent.
Among the three major subcategories of non-residential construction, commercial and heavy engineering/civil activity decreased 4 and 6.2 percent respectively, but by far the most dramatic change from November to December occurred in industrial work (512.9 percent increase). Industrial starts can fluctuate month-to-month and depend on getting the go-ahead for large projects.
On another positive note, year-over-year employment in construction ended in 2015 with an increase of 4.2 percent, leading all major employment subcategories. Click here to view Construction Industry Snapshot Package-December 2015.
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