Despite falling considerably in May, construction rates in Chicago rose last month, according to recent data from Dodge Data & Analytics. The report considered all June 2017 construction starts in the area.
Much of this year-over-year rise in total building is due to a notable jump in nonresidential spending, which increased by 78 percent. This allowed overall spending to move from $1.2 billion in June 2016 to $1.6 billion in June 2017 — a 30 percent increase from last year. Though residential spending fell 27 percent, Chicago still saw a notable year-over-year rise in construction rates overall.
Year-to-date numbers, however, haven’t followed this pattern. Nonresidential spending, residential spending and total building spending all fell 4 percent from their individual rates at the beginning of 2016. This decline in year-to-date numbers wasn’t as steep it was last month, though. By May 2017, YTD total building had dropped 19 percent, while nonresidential spending alone had fallen 43 percent.
|Construction Type||June 2017||June 2016||Change|
|Year-to-date||YTD 2017||YTD 2016||Change|