The value of new construction starts fell 1% in April, seasonally adjusted, according to McGraw-Hill Construction, New York. For the first four months of 2009 combined, starts declined 39%, compared to the same time period in 2008. Additionally, in April non-building construction fell 19%, following a 28% increase in March, and was down 20% year-to-date. Non-residential building experienced a 9% jump in April, but fell 42% year-to-date. Residential construction in April grew 8%, largely as a result of a 13% gain in single-family housing, but was down 50% year-to-date.
Highlights of the McGraw-Hill report for April include month-to-month findings:
- 49% increase for health care
- 19% increase for public buildings
- 10% decrease for stores
- 20% decrease for warehouses
- 22% decrease for offices
- 8% increase for hotels
- 11% decrease for multi-family housing
