By Jim Haughey
Reed Construction Data (RCD) announced today that the year-to-date value of construction starts through November 2009, excluding residential contracts, totaled $247.1 billion, 6.1% less than in the same period in 2008. Individual month of November starts were 7.0% higher than in October so the November total was more than a 20% increase after seasonal adjustment. November 2009 starts were about 8% higher than last November. Last month’s starts were double the depressed June total and the highest monthly figure in two years, except for the seasonally high totals reported for August in the last two years.
The value of construction starts each month is summarized from RCD’s database of all active construction projects in the United States, excluding single-family homes. Missing project values are estimated using RSMeans’ building cost models.
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