Despite continuing labor shortages and supply chain issues, the value of construction starts nationally saw a 17% increase from July of 2021 to this last July, according to a new report released by the construction data collection firm ConstructConnect.
An increase of 16%, according to the report, is also seen for the entire 7-month period beginning in January of this year, over January to July of last year.
While nonresidential building starts saw a substantive 37% jump in July 2022 over July 2021, nothing compares with the increase in the industrial/manufacturing sector, recording a massive 320% increase for the last 12 months.
In this category, road projects were up by 23%, with water and sewage projects seeing a marginally smaller increase at 22%.
The value of bridge construction starts, meanwhile, saw a 44% jump, while dam, canal, and marine industry work was up 17%.
After compiling a series of increases in recent months, the power infrastructure was down by 27%, but at the same time airport projects from July of last year to this past July were up by 31%.
Based in Cincinnati, Construct Connect number crunches the total estimated dollar value as well as square footage of starting projects nationally in a dozen key categories on a monthly basis.
By Garry Boulard