Total construction starts fell 2 percent in February to a seasonally adjusted annual rate of $797.3 billion, according to Dodge Data & Analytics. Nonbuilding construction starts posted a solid gain after rebounding from a weak January; however, residential and nonresidential building starts declined, leading to a pullback in overall activity. The Dodge Index fell 2 percent in February, to 169 (2000=100) from January’s 171.
“With spring just around the corner, hope is building for a strong economic recovery fueled by the growing number of vaccinated Americans,“ said Richard Branch, chief economist for Dodge Data & Analytics. “But the construction sector will be hard-pressed to take advantage of this resurgence as rapidly escalating materials prices and a supply overhang across many building sectors weighs on starts through the first half of the year.”
Belo
