CONSTRUCTION STARTS SURGE 15% IN MAY

The increase follows a 12% decline in April, and shows total construction activity reaching the highest level reported over the past eight months.

At a seasonally adjusted annual rate of $783.6 billion, new construction starts in May advanced 15% from April, Dodge Data & Analytics reported Wednesday.

The increase follows a 12% decline in April, and shows total construction activity reaching the highest level reported over the past eight months.

The lift in May came from substantial gains for non-building construction, up 39%; and nonresidential building, up 18%; as both sectors benefited from the start of several very large projects.

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