Besides increasing 14.7% year-to-date, commercial building increased by 8.8% in August, totaling $287.8 million, up from $179.0 million in July and up from $140.8 million in August 2003. The August increase was due mainly to an increase in large projects, according to Ben Bartolotto, director of the CIRB. The CIRB is forecasting that by the time 2004 comes to a close, commercial construction will have climbed 7.1% for the year, reversing three straight years of decline.
The $40.4 billion in private commercial and residential building thus far this year was part of a total of nearly $52.2 billion for all categories of construction in the state. The $52.2 billion represented an increase of 11.4% from the corresponding period in 2003.
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