Total Construction Starts Jump 8% Following Two-Month Decline

Sebastian Obando, Construction Dive

Total construction starts jumped 8% in October to a seasonally adjusted rate of $1.12 trillion following two consecutive months of decline, according to a Dodge Construction Network report.

Nonresidential building and nonbuilding starts gained 9% and 26%, respectively, while residential starts fell by 3% for the month, according to the report. Year to date through October, total construction starts posted a 16% gain from 2021. Nonresidential building starts rose 37%, nonbuilding kickoffs jumped 17% and residential commencements remained flat, according to the report.

The rebound in starts signals the construction industry “continues to weather the storm of higher inflation rates,” said Richard Branch, chief economist for Dodge, in the report.

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