Reed Construction Data Reports a Solid Performance for November Construction Starts

December 17, 2013

Reed reports a strong month for construction starts – up a solid 12.5% in November, but only up slightly from 2012. 

Reed Construction Data announced today that the value of November construction starts, excluding residential contracts, rose a solid 12.5% to $25.0 billion after a 5.0% increase in October. Year-over-year comparisons are often used, as they remove much of the seasonal effects. Since starts data are not seasonally adjusted, caution should be used in analyzing monthly movements. Compared to November 2012, starts were up a less spectacular 2.0%. The year-to-date starts data, which totaled $250.5 billion, were up a decent, if not overwhelming, 4.3% from the same period in 2012.

“November’s starts reinforce the industry’s overall positive news, with very strong numbers for commercial and mostly strong numbers for heavy engineering,” stated Bernard Markstein, U.S. Chief Economist, Reed Construction Data. “On the other hand, institutional starts, down for November, are also down on a year-to-date basis and will be slow to turn around.”

In November, commercial starts rocketed up 57.5%, after a more modest 2.6% increase in October. Year-to-date, commercial starts were 33.8% higher than in the same period last year. Retail starts, the largest category in the group, advanced 2.5% in November and were up a robust 48.8% year-to-date.

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Reed Construction Data, a division of Reed Business Information and the Inaugural Strategic Partner of the AIA, is a leading North American provider of construction information through a diverse portfolio of innovative products and services. Reed offers its customers construction project leads, building product information, construction cost tools, construction news through a suite of online and print references — all valuable resources for architects, engineers, contractors, manufacturers, distributors and other professionals in the construction industry. For more information, visit www.reedconstructiondata.com or call 877-REED411.

Reed Business Information, a part of the Reed Elsevier Group plc (NYSE:RUK and ENL), is North America’s largest business-to-business information provider, with more than 80 market-leading publications, 55 Websites and a range of leading business-to-business services.