Ten billion-dollar projects breaking ground in October pushed total construction starts up 21.1% to $1.53 trillion annually, though underlying activity measured in square footage tells a different story, according to Dodge Construction Network.
Total construction starts climbed 21.1% month-over-month in October to reach a seasonally adjusted annual rate of $1.53 trillion, according to new data from Dodge Construction Network. The surge was powered primarily by a wave of billion-dollar-plus projects breaking ground across the nonbuilding and nonresidential sectors.
Nonbuilding starts posted the strongest gains, expanding 59.4% to $645 billion annually. A massive 384.5% spike in utility starts led the category, fueled by major liquefied natural gas export facilities. The sector’s largest October groundbreakings included the $15.1 billion Calcasieu Pass LNG Export Terminal and Pipeline in Cameron, Louisiana, and the $9 billion Rio Grande LNG Facility expansion in Brownsville, Texas.
Nonresidential building activity rose 17.9% to $561 billion, with commercial starts up 19.5% on the strength of office and data center construction, which surged 45.5%. Manufacturing starts more than doubled, jumping 107.2% for the month. The $7.5 billion Meta Hyperion Data Center in Richland, Louisiana topped the nonresidential project list.
Ten projects over $1bn
Residential construction bucked the upward trend, falling 15.4% to $323 billion as multifamily starts dropped 38.5%. Single-family activity edged up just 2.2% in October.
“Growth in construction starts continued to be propped up by high-value megaproject activity last month,” said Sarah Martin, Associate Director of Forecasting at Dodge Construction Network. “Specifically, ten projects valued at $1 billion and over broke ground, largely within data center, manufacturing and LNG construction.”
Martin noted that beneath the headline numbers, growth appears more moderate. In square footage terms, nonresidential and residential starts actually declined 4.3% month-over-month and are down 5.4% year-to-date through October.
Year-to-date, total construction starts are up 5.9% compared to the first ten months of 2024, with nonbuilding leading at 19.8% growth while residential lags with a 5.1% decline.
Regionally, the South Central region posted the strongest growth at 84.9%, while the Northeast saw starts fall 40.1% in October.
Myrna Whitaker 
Nils Lund 
Anna Broberg 
