Nonresidential Construction Slips 2 Percent in June

After a 9 percent gain in May, nonresidential building starts lost momentum in June, declining two percent to a seasonally adjusted annual rate of $151.3 billion,according to a July 22 report fromMcGraw Hill Construction.MHCattributes the decline to diminished construction of healthcare facilities, as hospital mergers and uncertainty surrounding the Affordable Care Act continue to restrain construction.Overall, new construction starts receded 1 percent in June to a seasonally adjusted annual rate of $489.5 billion.

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