ConstructConnect Blog

No Mega Project for 1st Time in Over Two Years ConstructConnect announced today that the latest month’s volume of construction starts, excluding residential work, was $23.8 billion (green shaded box, Table 3 below), a drop of one-quarter (-25.4%) versus January’s figure of $31.9 billion (originally reported as $29.7 billion). For the first time since January 2018, more than two years ago, there were no ‘mega’ project (i.e., valued at $1.0 billion plus) groundbreakings in the latest month.

The accompanying table records the top 10 project starts in the U.S. for February 2020.

Clichés are often true and it is the case that a picture can be worth a thousand words.

Assessing January Starts is Always a Challenge ConstructConnect announced today that the latest month’s volume of construction starts, excluding residential work, was $29.7 billion (green shaded box, Table 3 below), -14.0% versus December 2019’s figure of $34.5 billion (originally reported as $34.0 billion). The decline was greater than the usual step back due to seasonality of -10.0%. ‘Seasonality’ refers to increases or decreases in activity due to favorable or unfavorable weather. Winter qualifies as unfavorable.

The accompanying table records the top 10 project starts in the U.S. for January 2020.

Clichés are often true and it is the case that a picture can be worth a thousand words.