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News Jan. 4, 2023

Construction starts fell in November 2022

Dodge Data & Analytics, New York, has reported construction starts dropped 18% in November 2022 after rising in October 2022 as fewer large projects broke ground. 

“Month-to-month volatility in construction activity continues to reign supreme as uncertainty mounts over the economy in 2023,” said Richard Branch, chief economist for Dodge Construction Network. “Higher interest rates and fear of recession are first and foremost on the mind of most builders and developers, and potentially restraining starts activity. However, as some material prices head lower and more public dollars come into the market for infrastructure and manufacturing projects, the year is ending with a fair bit of momentum. Next year will be a challenge but nothing like the sector faced during the Great Recession.”

Nonresidential building construction fell 25% in November 2022 as commercial starts declined 33%, institutional starts dropped 12% and manufacturing starts plunged 69%. 

Residential building construction fell 5% in November 2022. Single-family housing declined 9%, and multifamily starts increased 1%.

Nonbuilding construction fell 21% in November 2022.

For the first 11 months of 2022, nonresidential building was up 36% compared with the first 11 months of 2021. Residential building dropped 1%, and nonbuilding construction decreased 21%. 


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