In its “Construction Industry Snapshot,” Construction Market Data (CMD) announced November non-residential construction starts declined 2.5 percent from October.
The group defines three major subcategories of U.S. non-residential construction: commercial (which rose 3.7 percent), institutional (which increased 3.6 percent), and heavy engineering, (which decreased10.4 percent). The large heavy engineering drop over powered the small increases in commercial and institutional to create an overall decline of 2.5 percent.
On a positive note, the month’s new construction total, $24 billion, was almost two percent higher than the November 2014 total. Total employment increased by 46,000 jobs during the month as well. The unemployment rate was 6.2 percent compared to the 7.5 percent this time last year.
To read the report, click here.