NEW JERSEY (March 16, 2021) — A report recently released by Dodge Data & Analytics shows that construction starts fell 2% in February to an adjusted rate of $797.3 billion. Nonresidential and residential building starts both declined.
“With spring just around the corner, hope is building for a strong economic recovery fueled by the growing number of vaccinated Americans,“ said Richard Branch, Chief Economist for Dodge Data & Analytics. “But the construction sector will be hard-pressed to take advantage of this resurgence as rapidly escalating materials prices and a supply overhang across many building sectors weighs on starts through the first half of the year.”
South Central and West regions starts fell but starts rose in the Midwest, Northeast and South Atlantic Regions.
You can read the full report on the Dodge Data & Analytics website.