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Nonresidential Starts Soar in March05-07-15 | News

Nonresidential Starts Soar in March

At least a part of the construction industry gained some momentum in March as starts in the nonresidential sector were up almost one third over February's numbers.

The dollar amount of nonresidential construction starts in March reached $25 billion - 32.4 percent higher than February and over 26 percent higher than the long-term average February-to-March increase according to Reed Construction Data.

However, 2014's February-to-March increase also blew away that long-term average and even outpaced this year's number at 40.3 percent. And in dollar terms, March of 2015 was off 5.1 percent compared to March 2014. Still, year-to-date nonresidential starts are up over last year.

It was also reported, by the Census Bureau, that non-residential building in February accounted for 65 percent of the total construction put in place.