A one-third month-on-month increase in the value of US non-residential construction starts in June 2014 was disproportionate, even considering seasonality
Reed Construction Data has announced that the dollar value of non-residential construction starts in June 2014 surged 34% compared to May. Non-residential starts in June reached $32.0 billion, marking one of the strongest in RCD’s database, according to a Reed release.
The one-third increase was an outsized gain, even after taking into account seasonality. RCD’s long-term average May-to-June increase has been 4.5%, according to Reed.
Looking at non-residential market segments, the month-to-month leaders among major non-residential construction categories were commercial, up 39%, and heavy engineering, up 34.7%. Institutional work was also up 3.6%.
Year-over-year, the June 2014 starts were 14.4 higher than June 2013. The year-to-date level of total non-residential construction starts, at $138.0 billion, was up 2.4% when compared with the same January to June period of 2013, according to Reed.