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Most construction categories lower in the month; single family starts are a bright spot. Total construction starts fell 9% in June to a seasonally adjusted annual rate of $1 trillion. Nonresidential starts led the downturn, falling 14%. Nonbuilding starts fell 9%, and residential starts lost 4%. [ watch video ]
The Dodge Momentum Index (DMI), issued by Dodge Construction Network, declined 2.5% in June to 197.3 (2000=100) from the revised May reading of 202.4. Over the month, the commercial component of the DMI rose 3.1%, while the institutional component sunk 10.5%. [ watch video ]
May saw an 8% rise in total construction starts, with manufacturing and infrastructure leading the sector with large gains, and residential seeing double-digit decline. [ watch video ]