Large Powerplant Contracts Give Construction Stats a Boost - ENR | McGraw-Hill Construction

Description:
The value of new construction starts increased 6% in July to a seasonally adjusted rate of $578 billion, according to McGraw-Hill Construction. “The current year has seen wide swings on a month-to-month basis for both nonresidential and nonbuilding construction, and in July, it was nonbuildings turn to surge,” says MHC chief economist Robert Murray. The nonbuilding market jumped 27% in July with the help of a new $2.5-billion powerplant in Tennessee and a $1.8-billion plant in Virginia. Overall, total construction is still down 14% from a year ago, due to the 38% year-to-year decline in the value of new housing starts.

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