Construction Off to a Slow Start in 2016

Through the first five months of this year, total construction starts were $257 billion, 12% below the same period a year ago. The non-building market was down 24% for the year, while non-residential building work was off 21%. The bright spot was residential construction, which climbed 6% above May 2015’s level. A year ago there were several billion-dollar project that skewed the statistics.