New construction starts in March advanced 16 percent from the previous month to a seasonally adjusted annual rate of $809.2 billion, according to Dodge Data & Analytics.
The substantial gain followed a lackluster performance during the first two months of 2019, as total construction starts in March were able to climb back to a level slightly above the average monthly pace during 2018. The nonbuilding construction sector, comprised of public works and electric utilities/gas plants, jumped 40 percent in March from a weak February, lifted by the start of a $4.3 billion liquefied natural gas (LNG) export terminal in Cameron LA.
Nonresidential building increased 24 percent in March, aided by groundbreaking for several large projects. These included the $1.6 billion Toyota-Mazda automotive manufacturing facility in Huntsville AL, a $1.1 billion hotel and theater redevelopment in New York NY, and the $850 million renovation of the KeyArena in Seattle WA.
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