January contracts increased 2 percent

Dodge Data & Analytics, New York, has reported construction starts increased 2 percent in January. Total construction starts in January were down 14 percent compared with January 2015.

"The construction industry, as shown by the construction start statistics, seems to be gradually regaining upward momentum," says Robert A. Murray, chief economist for Dodge Data & Analytics. "Last year, construction activity proceeded at a healthy clip during the first half, followed by a 20 percent drop in the third quarter, and then a slight 1 percent rebound in the fourth quarter. January's modest gain for construction starts is consistent with what was shown at the end of last year. On the plus side, long-term interest rates remain low in early 2016, and such market fundamentals as occupancies and rents are supportive of further growth by multifamily housing and commercial building. The new five-year federal transportation act is in place and fiscal 2016 appropriations have been passed, which should help public works construction.

From NRCA
Trenton H. Cotney
Florida Bar Certified Construction Lawyer
Trent Cotney, P.A. 
407 N. Howard Avenue
Suite 100
Tampa, FL 33606

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