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The report predicts that total U.S. construction starts will increase 4% in 2021 to $771 billion. December 18, 2020 Pexels Dodge Data & Analytics released its 2021 Dodge Construction Outlook, a mainstay in construction industry forecasting and business planning. The report predicts that total U.S. construction starts will increase 4% in 2021, to $771 billion. “The COVID-19 pandemic and recession has had a profound impact on the U.S. economy, leading to a deep drop off in construction starts in the first half of 2020,” stated Richard Branch, Chief Economist for Dodge Data & Analytics...

Weakness in residential and nonbuilding activity overwhelmed nonresidential building strength, causing total construction starts to dip 2%. December 16, 2020 Dodge Data & Analytics Total construction starts fell 2% in November to a seasonally adjusted annual rate of $797.5 billion following a strong gain in October. Residential starts fell 7% during the month, while nonbuilding starts dropped 14%. Nonresidential building construction starts, however, rose 19% in November. Total construction starts fell in three regions, the South Atlantic, West, and Northeast, but rose in two, the Midwes...

With government support programs such as the CARES Act expiring, nonresidential building projects have slowed down. December 9, 2020 Dodge Data & Analytics The Dodge Momentum Index fell 2.6% in November to 123.3 (2000=100) from the revised October reading of 126.5. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The institutional component of the Momentum Index fell 4.4%, while the com...

Material Shortages Significant Issue for Construction Contractors During Pandemic According to the U.S. Chamber of Commerce, 71% of commercial construction contractors face at least one material shortage December 10, 2020 Adobe Stock/auremar More contractors are facing a shortage of building materials as the pandemic continues, according to new fourth quarter data from the U.S. Chamber of Commerce Commercial Construction Index (Index). This quarter, 41% of contractors say less availability of building products and materials is a severe consequence of the pandemic, up from just 15% saying t...