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Chief Economist: "diverging trends within the industry"
ConstructConnect reported the top ten nonresidential construction starts by dollar volume in the October Construction Economy Snapshot.
Last week, ConstructConnect announced that the volume of Total Nonresidential construction starts—the sum of Nonresidential Building and Heavy Engineering—was $54.0 billion, an increase of $2.3 billion, or 4.4%, when compared to a revised August reading of $51.7 billion.
Chief Economist Michael Guckes said, “Although total construction spending is little changed compared to measures from the recent past, the three underlying pillars of construction spending — Residential, Nonresidential Building, and Heavy/civil engineering — illustrate significant and diverging trends within the industry."
Those diverging trends highlight the significance of being selective when choosing construction projects. Guckes said general contractors, trades, building product manufacturers, and estimators “can better manage risk when markets fluctuate by being in touch with the fundamentals in regions and building categories and being choosy among the projects that match their capabilities and business needs.”
Read the Construction Economy Snapshot for more details, including trend graphs, analysis, and commentary from Chief Economist Michael Guckes.
About ConstructConnect
At ConstructConnect, our software solutions provide the information that construction professionals need to start every project on a solid foundation. For more than 100 years, our keen insights and market intelligence have empowered commercial firms, building product manufacturers, trade contractors, and architects to make data-driven decisions, streamline preconstruction workflows, and maximize their productivity. Our newest offerings—including our comprehensive, AI-assisted software—help our clients find, bid on, and win more projects.
ConstructConnect operates as a business unit of Roper Technologies (Nasdaq: ROP), a constituent of the Nasdaq 100, S&P 500, and Fortune 1000.
For more information, visit constructconnect.com.
