New York, New York (Nov. 18, 2019)—New construction starts declined 11% in October to a seasonally adjusted annual rate of $696.3 billion, according to Dodge Data & Analytics. This is the third consecutive monthly drop in construction starts activity. By major sector, nonresidential building starts fell 20% from September to October and nonbuilding starts dropped 14%, while residential starts moved 2% lower. The October statistics pushed the Dodge Index down to 147 (2000=100) compared to 166 in September.
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Washington, D.C. (Nov. 14, 2019)—The Equipment Leasing & Finance Foundation has released the November 2019 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $900 billion equipment finance sector. Overall, confidence in the equipment finance market is 54.9, an increase from the October index of 51.4.
Dodge predicts construction starts will decline 4% in 2020 to $776 billion. The most notable drops by sector are residential (forecasted to decrease by 6% from 2019) and nonresidential buildings and nonbuilding construction (both forecasted to drop 3%).
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