Total construction starts in the US grew by 11.1% in 2017 to reach $760bn, a modest slowdown from the 13.2% growth posted in 2016.
Civil engineering was the main driver of growth, boosted by a number of mega-projects in the airport, power and miscellaneous civil engineering (which includes oil & gas) segments. Despite a strong impetus from factory construction, nonresidential building grew by a more modest 3.5%, but this comes on the heels of 20%-plus growth in the previous year. Residential construction rose by 12.9%, with stronger growth in the multi-family segment than in the single-family segment. This came against a backdrop of stronger GDP growth, which accelerated to 2.3%, from 1.5% in 2016.
