Construction Starts Flatline Even as Manufacturing Accelerates

Expected interest rate cuts in the second half of 2024 should spur more starts as the year progresses, says Dodge Construction Network.

Construction Dive

February 26, 2024

1 Min Read

Total construction starts ticked up 1% in January to a seasonally adjusted annual rate of $1.16 trillion, according to Dodge Construction Network.

Even with December’s big bounce where starts rebounded 20% off of a 10-month low in November, the marginal uptick in January means construction activity is still just barely treading water over the past year and is about 1% lower than in January 2023. 

“Construction starts are struggling to make headway in the new year,” said Richard Branch, chief economist for Dodge Construction Network. “Construction starts will continue to struggle early on in 2024 as higher interest rates and tight credit standards are slowing down projects moving through the planning cycle to start.”

To read the rest of this story from our sister publication, Construction Dive, click here.

About the Author(s)

Construction Dive

Construction Dive provides in-depth journalism and insight into the most impactful news and trends shaping the construction and building industry. The daily email newsletter and website cover topics such as commercial building, residential building, green building, design, deals, regulations and more.

Construction Dive is a leading industry publication operated by Industry Dive. Our business journalists spark ideas and shape agendas for 14 million decision makers in competitive industries.

Subscribe to get the latest information on products, technologies and management.
Join our growing community and stay informed with our free newsletters.

You May Also Like