Construction starts drop; import prices, wages climb; metro populations, jobs shift

The value of nonresidential building construction starts dropped 5.0 percent year-to-date through June compared to the first half of last year, Reed Construction Data reported on Thursday, based on its own data collection. However, square footage slumped 13 percent. Much of the difference was attributable to soaring materials costs, which Reed estimated were up 18 percent in the first five months of 2008, according to the July 7 Data DIGest report of the Associated General Contractors of America.

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