Dodge: Total Construction Starts Fell 9% in August

By Sebastian Obando

Dive Brief:

  • Total construction starts declined 9% in August to a seasonally adjusted rate of $1.25 trillion, according to a Dodge Data & Analytics report.
  • The drop in starts follows a 48% spike in July that included the start of three large manufacturing plants and two LNG export facilities, according to the report.
  • Despite the decrease in starts, the industry remains in a “very good position” to continue modest growth, but higher interest rate hikes may undo this support in the coming months, said Richard Branch, chief economist for Dodge, in the release.