May’s Nonresidential Construction Starts +4% M/M, -30% Y/Y, and +2% YTD
ConstructConnect's May 2023 volume of nonresidential construction starts was $49.2 billion, up +4.3% versus April 2023’s figure of $47.1 billion
Construction Economic News
2023 Lumber Prices Fall to Fresh Post-COVID-19 Lows
After surging to notable peaks of $1,400 per contract in May 2021, Random Length Lumber has plummeted to $344 per contract as of May 15, 2023.
Michael Guckes, Chief Economist
Jun 14, 2023
Shifts in Canada’s May Jobs Makeup Won’t Please Bank of Canada
In May 2023, Canadian construction employment stayed flat; manufacturing employment, though, climbed by +13,000 jobs.
Alex Carrick
Jun 9, 2023
Equanimity Over the Economy and a Crush on AI Stir up Stock Markets
North America’s major stock market indices are currently well up from the lows they reached in October of last year.
Alex Carrick
Jun 7, 2023
What’s Not to Like About May’s U.S. Labor Market Report? Ask the Fed
The construction industry added 25,000 jobs in May 2023, with 11,000 coming from heavy and civil engineering
Alex Carrick
Jun 2, 2023
Housing Starts in U.S. & Canada Not the Total Train Wreck Expected
An expected, fallout from higher interest rates is a decline in housing starts, in both the United States and Canada.
Alex Carrick
Jun 2, 2023
Debt-Ceiling Crisis Placing Unnecessary Costs on Small Businesses
Banks frequently offer businesses revolving credit lines based on short-term variable rates. The debt crisis could add 1.25% or more to lending...
Michael Guckes, Chief Economist
May 31, 2023
Talk of a Mild Recession Fails to Capture Wall Street’s Real Estate Outlook
Wall Street’s expectations for real estate earnings point to a protracted lull, contrasting the much-popularized view of a mild 2023 recession.
Michael Guckes, Chief Economist
May 25, 2023
Winning More Work Starts Here: Expert Tips, Market Trends, and Data-Driven Construction Insights
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