Issue link: http://read.dmtmag.com/i/875930
32 • october 2017 • world fence news NEW YORK – The value of new construction starts in July advanced 6% from the previous month to a sea- sonally adjusted annual rate of $728.1 billion, it was reported by Dodge Data & Analytics. Leading the way was a 26% jump by the nonbuilding construction sec- tor, which reflected an improved level for public works and the start of two massive power plants, located respec- tively in California and New York. Residential building in July in- creased 8%, as multifamily housing The Dodge Report July construction starts increase 6 percent rebounded after three consecutive monthly declines. Running count- er was a 7% slide for nonresidential building following its 14% hike in June, as both office buildings and hotels retreated from June's elevated activity, outweighing a sharp rise for healthcare facilities in July. During the first seven months of 2017, total construction starts on an unadjusted basis were $411.9 billion, down 1% from the same period a year ago. Dampening the year-to-date per- formance for total construction was a steep 44% decline for the electric utility/gas plant category, even with the two massive power plants report- ed as July starts. If the electric utility/ gas plant category is excluded, total construction starts in this year's Janu- ary-July period would be up 3% from a year ago. July's data lifted the Dodge Index to 154 (2000 =100), compared to an upwardly revised 145 for June. After this year's strong first quar- ter, the Dodge Index had receded 11% in the second quarter. July's total con- struction gain brings activity back to within 2% of the first quarter's pace. "July's increase means the third quarter began on a healthy note, which should help to maintain the up-and-down pattern on a quarterly basis that's been present for construc- tion starts over the past year," stated Robert A. Murray, chief economist for Dodge Data & Analytics. "Within that up-and-down pattern there remains a modest upward trend, as it appears that construction starts are still in the process of reaching a peak, as opposed to having already reached a peak. "Public works construction, after sluggish activity earlier in the year, is showing hesitant signs of improve- ment," he said. "It's true that residen- tial building is now seeing generally decreased activity for multifamily housing, but the monthly declines con- tinue to be mixed in with monthly gains, such as what took place in July. For nonresidential building, growth is being supported by its institutional segment, while commercial building is leveling off due to varied behavior by its individual project types." Nonbuilding construction in July was $195.8 billion (annual rate), up 26% from June and achieving its sec- ond highest amount so far in 2017 af- ter February. The public works categories as a group rose 12%, rebounding after a 7% decline in June. Water supply construction had a particularly strong month, soaring 136% with the lift coming from the start of the $844 mil- lion Vista Ridge water supply pipeline project in San Antonio, as well as an $88 million recycled water treatment facility in San Francisco. Sewer construction improved 37% after a weak June, although river/ harbor development receded 2%. Highway and bridge construction increased 10% in July, and featured the start of the $322 million I-74 bridge replacement across the Missis- sippi River in Davenport, Iowa, a $192 million highway expansion in San An- tonio, and a $94 million rehabilitation project on the Henry Hudson Parkway in New York, N.Y. Through the first seven months of 2017, the top five states in terms of the dollar amount of highway and bridge construction starts were – Texas, Cal- ifornia, Florida, Pennsylvania, and Ohio. The miscellaneous public works category, which includes natural gas pipelines and mass transit, slipped 10% in July, continuing to recede af- ter very strong activity back in May. Even with its decline, miscella- neous public works still included the July start of the $1.5 billion Browns- ville to Nueces natural gas pipeline in Texas and a $225 million rail transit project in Bellevue, Wash. The electric utility/gas plant cat- egory surged 64% in July, registering its second straight monthly gain in contrast to the substantially weaker activity reported during the first five months of 2017. 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