New Construction Data Indicate Stagnation in Economic Recovery, Says Covendium

New home construction was down 5% in August, according to a new report by the Department of Commerce. The data indicate full economic recovery is still out of reach, as new home construction has historically been an important factor in post-recession economic growth. The commercial sector is also lagging-the newest Dodge Index report indicates nonresidential construction starts fell 6% from June to July. Covendium, the nation's largest debtor-side commercial debt restructuring and advisory firm, says the economy cannot fully recover without a significant jump in new construction rates.