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Some McGraw-Hill starts rise in March; economic slide slows, say NABE, Beige Book

Post Time:Apr 22,2009Classify:Industry NewsView:90

"New construction starts increased 5 percentin March," seasonally adjusted, McGraw-Hill Construction reported today, based on its own data compilation. However, for the first quarter of 2009 compared to the same months of 2008, total starts tumbled 40 percent. "The improved level of contracting relative to February was due to a strong increase for public works construction, helped by two large pipeline projects and a large rail project. At the same time, nonresidential building showed a further loss of momentum, and residential building slipped back after its brief upturn in February. Residential building starts fell 8 percent in March and 52 percent for the first quarter of 2009 compared to the same months of 2008; nonresidential building, -3 percentand -47 percent; and nonbuilding construction rose 27 percentfor the month but fell 11 percentfor the quarter, according to an April 20 Data DIGest report.

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