Total construction starts jumped 27% in December to a seasonally adjusted annual rate of $1.185 trillion, according to Dodge Construction Network. During the month, nonresidential building starts increased 51%, nonbuilding starts increased 30% and residential starts rose less than 1%. Across 2022, total construction starts were 15% higher than in 2021. Nonresidential building starts rose 38% over the year, nonbuilding starts were up 19% and residential starts were down 3%. Nonbuilding construction starts rose 30% in December to a seasonally adjusted annual rate of $281.4 billion. The utility/gas category was the main driver of the growth due to the start of a transmission … Read more