McGraw-Hill said this week that new construction starts fell 9 percent during September and 11 percent year-to-date for the first nine months of 2007 combined, compared to same period of 2006.
The industry analyst broke new construction into three subcategories: nonbuilding, nonresidential and residential construction.
Nonbuilding construction was up 6 percent year-to-date but was down 27 percent for September
Nonresidential building which includes commercial, educational and government construction projects, fell 6 percent during September but increased 3 percent for the year. Overall, it was up 4 percent.
Residential building, the most vulnerable sector of the construction industry, grew during September by 1 percent, supported by a 29 percent mulithousing increase for the month, however that figure tumbled 24 percent year-to-date.