ConstructConnect announced today that the latest month’s volume of construction starts, excluding residential work, was $37.6 billion (green shaded box, Table 4 below), an increase of 10.5% versus May’s figure of $34.1 billion (originally reported as $32.1 billion).
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July 6th, 2020
U.S. put-in-place construction spending, during the coronavirus health crisis, has benefitted from the carryover of work begun last year. 2019 construction starts included an inordinately large number of mega projects valued at $1 billion or more each. There were 35 such projects last year, with a summed value near $80 billion, or 15% of nonresidential groundbreakings.
July 2nd, 2020
With today’s June Employment Situation report from the Bureau of Labor Statistics (BLS), the U.S. economy has now clawed back 29% of the total number of jobs lost in March and April, when shelter-at-home directives were first enacted to deal with the coronavirus outbreak.
June 30th, 2020
As with most things pandemic-related, it’s hard to know where the cost of construction will land six months, or a year, or two years from now. Set out below are 10 ways in which costing in the sector is likely to be impacted in the period ahead.