McGraw-Hill Construction Reports a 40% Decrease in New Construction Starts

McGraw-Hill Construction, New York, recently reported a 40% fall in new construction starts for the first quarter of 2009 in comparison to the same time period in 2008.

Residential building starts fell 8% in March and 52% for the first quarter of 2009 compared to the same months of 2008. Non-residential building fell 3% in March and 47% compared to first quarter 2008. Non-building construction rose 27% for March but fell 11% for first quarter 2009, in comparison to the same months of 2008.