ATLANTA, Ga. — U.S. construction starts came in below expectations during the second quarter, held back by disappointing business investment. Both residential and nonresidential sectors underperformed relative to forecast, according to construction data provider CMD's latest quarterly report. The forecast, which combines CMD's proprietary data with macroeconomic factors, showed total starts performing lower than expected primarily due to the sluggish U.S. economy at the beginning of the second quarter. As a result, total construction starts in 2015 are expected to grow 7.1 percent, a downgrade from the 9 percent forecast in the previous report. “Last quarter saw the wider U.S. … Read more

NEW YORK, N.Y. — The Dodge Momentum Index rose to 125.3 (2000=100) in July, up 5.4 percent from its June reading of 118.9 according to Dodge Data & Analytics. The index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The economic doldrums of the first half of 2015 were accompanied by a saw tooth pattern for the index, and July’s increase returns the index to its generally rising trend over the past four years. Improving real estate … Read more

Construction spending in June recorded the highest year-over-year growth rate since 2006, according to a recent analysis by the Associated General Contractors of America. Association officials cautioned, however, that those spending gains could be at risk unless all levels of government strengthen programs to develop the construction workforce. “Spending rose strongly in June from a year ago for all major construction categories—private nonresidential, residential and public,” said Ken Simonson, the association’s chief economist. “Although the initial estimate for June showed minimal growth from May, totals for May and April were revised upward by large amounts.” Construction spending in June totaled … Read more