News & Events

June Construction Jumps 15 Percent

Friday, August 26, 2011

New construction starts in June climbed 15% to a seasonally adjusted annual rate of $436.8 billion, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies. The gain followed particularly weak activity in May, and helped the pace of contracting during this year’s second quarter stay close to its first quarter level. June featured a substantial increase for the nonbuilding construction sector, led by the start of several large electric utility projects. Nonresidential building also registered improvement in June, while housing edged up slightly. During the first six months of 2011, total construction starts on an unadjusted basis came in at $198.2 billion, down 7% from the same period a year ago. 

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