June construction starts decline
Reed Construction recently announced that the value of June construction starts, excluding residential contracts, fell 5.6% to $17.3 billion, after surging 44.3% in May. Compared to June 2012, starts were down 20.3%. The year-to-date starts data, which totaled $109.5 billion, were down 21.6% from the same period in 2012.
Commercial starts were down 6.6% from the same period last year. One of the few positives for this group was retail starts, which were up 5.7% year-to-date.