The annual construction rate of $677.8 billion was adjusted and new construction started in November started rising 13 per cent. Dodge Data & Analytics (formerly McGraw Hill Construction) brings this figure recently.
The non residential buildings have good growth. The non-building sectors are also growing high. The new construction starts on an unadjusted basis of $530.8 billion, up to 7 per cent from the same period.
The November statistics lifted the Dodge Index to 143 (2000=100), up from a change of 127 for October and marking the strongest month in this year.
But the beginning of this year was not so good. The manufacturing projects, energy related plants are growing which increases the growth of non-residential buildings.
The non-residential building increases in November 32 per cent to $256.7 billion.
Non-building construction grows 22 per cent in November. The power and gas plant gave the impetus on the growth rate.
The growth of residential buildings in November chops down 6% to $238.5 billion.
Multifamily housing move away after its strong October performance slipped 21%. Despite the turn down, there were still a considerable number of large projects are going on.
Data released by Dodge Data & Analytics