Highway and bridge construction rises in August
According to McGraw Hill Construction, new construction starts in August dropped nine percent, bringing construction activity back to its normal pace after July’s boost in energy-related manufacturing projects. Despite this fact, both highway and bridge construction experienced gains in the month of August.
Nonresidential building dropped 19 percent to $184.9 billion, with commercial building gaining 6 percent, store construction advancing to 27 percent and institutional building reaching 12 percent.
Nonbuilding construction dropped 12 percent at $120.1 billion, with the public works group down 6 percent. However, gains were reported for both highways and bridges, with highways up 7 percent and bridges up 9 percent.
Residential building grew 2 percent to $235.6 billion, caused mainly by multifamily housing raising to 10 percent. Although multifamily housing increased, single family housing fell 1 percent.
Finally, there was an overall 4 percent increase for total construction from January to August.
The Dodge Index now stands at 114, compared to 126 in July.
About the Author: Allison Kral
Allison Kral is the former senior digital media manager for North Coast Media (NCM). She completed her undergraduate degree at Ohio University where she received a Bachelor of Science in magazine journalism from the E.W. Scripps School of Journalism. She works across a number of digital platforms, which include creating e-newsletters, writing articles and posting across social media sites. She also creates content for NCM's Portable Plants magazine, GPS World magazine and Geospatial Solutions. Her understanding of the ever-changing digital media world allows her to quickly grasp what a target audience desires and create content that is appealing and relevant for any client across any platform.Subscribe to Pit & Quarry
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