SVB's Downfall Hasn't Impacted Construction Starts - Yet
Total construction starts increased 19% in March to a seasonally adjusted annual rate of $1.09 trillion.
Source: valuewalk.com
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Construction starts rose 19% in March as concerns over the impact of the Silicon Valley Bank collapse loom
March data from the Dodge Construction Network (DCN) has shown an increase in construction starts of 19% to what is now a three-month high despite concerns over the industry’s ties with Silicon Valley Bank following the financial institution’s controversial collapse at the beginning of the...
Source: archinect.com
Dodge Momentum Index Drops in March
The DMI report shows the index dropped 8.6 percent in March. This is not completely unexpected, as Dodge Construction Network has predicted that the index would weaken in 2023 as it recedes to a more normal level after historic highs in 2022. Other trends include commercial falling 6.6 percent and institutional decreasing 12.9 percent.
Source: glassmagazine.com
Employment in Construction Falls in March
According to the Dodge Construction Network, employment in the construction sector fell in March. The construction unemployment rate declined in March but remained elevated at 5.6 percent, highlighting continued labor shortages.
Source: glassmagazine.com
Construction News: Private Projects Feeling Recession Pains
Though the MMI was mostly flat, the latest construction news continues to warn of a potential recession and growing lending problems.
Source: agmetalminer.com