Construction starts run out of steam in May

Jun 23, 2014 | 05:21 PM | Frank Haflich

Tags  construction starts, residential construction, nonresidential construction, Robert Murray, McGraw Hill Financial, Frank Haflich

NEW YORK — A loss of momentum in residential and nonresidential building lowered construction starts in May, but this doesn’t necessarily signal a reversal from earlier gains.

The value of starts fell 4.9 percent vs. April to a seasonally adjusted annual rate of $513.4 billion, while nonresidential starts dipped 5 percent to $192.2 billion as manufacturing plant activity sank 87 percent, the McGraw Hill Construction division of New....

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