Construction starts in July rose 6 percent nationwide and Gilmore is happy to see the economy getting better and construction picking up.
Nonresidential construction, such as commercial construction which Gilmore specializes in, continues to grow as well in Juy by 7 percent to $229 billion (annual rate). That’s on top of the 12 percent rise reported in JUne.
“The construction expansion this year is getting more of a contribution from nonresidential building,” said Robert A. Murray, chief economist and vice president for McGraw Hill Construction in an article on ENR Mountain States. “Manufacturing plant construction is seeing the start of numerous chemical and energy-related projects, consistent with the nation’s growing energy sector. Commercial building is maintaining its upward momentum from low levels while institutional building, with its up-and-down pattern, appears to be stabilizing after a lengthy decline.”