Construction Statistics

As per report shown by National Statistical Institution on Tuesday, June 8th 2010, the volume of construction in United States of America dropped by 18.7 per cent in the first four months of the year 2010. The statistics has been adjusted according to the number of working days and to the season. The drop is in comparison to the first four months of the last year (2009). The drop reported for the month of April 2010 was more as compared to the month of March 2010 and also to April 2009.

The volume of work on account of new building construction also went down 29.2 per cent and chief repairs dropped 25.4% as compared to figures recorded last year for the same period. However, there was a growth of 24.7 per cent in maintenance and current repairs as compared to figures recorded last year for the same period. The construction of new residential projects dropped by 42.5 per cent and construction of non-residential projects dropped by 29.7 per cent. However engineering works saw 0.7 per cent increase and other structures saw an increase of 30.6 per cent. Due to increase in overall other structures, the month end stock showed an increase of 3.2 per cent as compared to the last year’s figures.

The drop in residential projects and non-residential complexes are due to lower disposable income with the general public resulting in low demand. As and when the US real estate economy will recover from the recession, the demand will grow and as a result the construction volume will also increase.