Associated Builders and Contractors Releases Latest Construction Spending Data

COCONUT CREEK, Fla. — Nonresidential construction spending continues to slide, falling 0.7 percent in April, and spending in April stood at $558.33 billion on a seasonally adjusted annualized basis, but is up 7.1 percent from April 2011, according to Associated Builders and Contractors.

“Ten of the nation's 16 nonresidential construction segments experienced declines in April, including manufacturing and power, which had been the leading drivers of spending growth,” said Anirban Basu, ABC chief economist.

Among the 16 subsectors in the nonresidential construction industry,10 reported declines in construction spending. The largest drop came from lodging, down 5.3 percent. This was followed by manufacturing, down 5.1 percent; conservation and development, down 4.9 percent; religious, down 4.5 percent; public safety, down 4.3 percent; sewage and waste disposal, down 3.5 percent; amusement and recreation, down 2.7 percent; power, down 1/3 percent; communication, down 1.1 percent and education down 0.7 percent.

On the other hand, six construction subsectors posted increases in April, including healthcare, up 2.6 percent; transportation, up 2.1 percent; water supply, up 2 percent; commercial construction, up 1 percent; office up 0.5 percent and highway and street, up 0.4 percent.

In contrast, residential construction spending rose 2.6 percent in April and is up 6.2 percent compared to the same time last year.

Overall, total construction spending — which includes both nonresidential and residential — is up 0.3 percent for April and up 6.8 percent from one year ago. For more information, visit www.abc.org and www.abceastflorida.com.