Construction activity held steady in February as gains in commercial building offset a slowdown in multifamily and manufacturing starts, according to a report from Dodge Construction Network.
Total construction starts ticked up 0.5% in February to a seasonally adjusted annual rate of $1.1 trillion, according to the report. Nonresidential building starts, which include office, hotel and healthcare projects, grew 2% in February, while residential starts slipped 1%. Nonbuilding starts — such as highways, bridges and utility plants — remained about flat for the month, according to Dodge.