According to statistical date gathered monthly
by the Construction Industry Research Board
(CIRB) the California's year-to-date figures show
total construction after five months is up 14.3%, thanks to major public works projects
which inflate the totals. However, Ben
Bartolotto, director of CIRB, believes "the gap is
closing." Bartolotto says these large projects
early in the year "do not diminish the fact we are
starting to slow down."
Bartolotto points out that California's total
construction volume after four months was $21.5
billion, an increase of 18.8% year-to-date.
Then, in May the five month year-to-date
volume was $27.1 billion, a 14.3% increase. This is a 4.5% drop in the
year-to-date comparisons from the same period
last year.