I look at construction economic data a lot. As such, I constantly need to remind myself to take monthly data with a grain of salt; the economy is dynamic and it goes up and it goes down, we just hope there are more ups than downs. That said, the Reed Construction Data (RCD) report for June construction starts (excluding housing; basically commercial, industrial and heavy-civil construction) were up big time. The increase from May to June was 34%, up to $32 billion. This comes on the heals of a boffo ABI report. RCD's volume hasn't been this high since June 2008. The details are
Some of this gain was due to abnormal outsized gains (so unlikely to be sustained on a monthly basis), but the numbers are solid nonetheless. Build on builders, build on!