October Construction Jumps 12 Percent
But tight fiscal conditions at all levels of government mean decreased funding for a wide range of publicly financed projects into 2012.
New York, N.Y. – November 22, 2012 - The value of new construction starts advanced 12 percent in October to a seasonally adjusted annual rate of $469.8 billion, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies. Much of the upward push came from nonresidential building, which was lifted by the start of a massive manufacturing project as well as by broader strengthening across several structure types. Also contributing to the total construction gain in October was a slight increase for the hoising sector...Through the first 10 months of 2011, total construction on an unadjusted basis came in at $355.6 billion, down 3 percent from the same period a year ago.
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