Nonresidential construction spending expanded 0.5 percent in July and is up 12.7 percent on a year-over-year basis, according to a Sept. 1 release by the U.S. Census Bureau. This represents the strongest year-over-year percentage growth in spending since April 2008. On a seasonally adjusted, annualized basis, nonresidential construction spending totaled $696.1 billion in July, which is the best reading since March 2009. Additionally, June's estimate was upwardly revised 0.9 percent from $686.9 billion to $692.8 billion. “A number of forces are at work and are conspiring to help push nonresidential construction spending higher,” said Associated Builders and Contractors Chief Economist … Read more

NEW YORK, N.Y. — The Dodge Momentum Index increased to 128.3 (2000=100) in August, up 2.8 percent from its July reading of 124.8, according to Dodge Data & Analytics. The index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. Planning data continues to trend higher following a weak start to the year, in response to improving economic data and real estate market fundamentals, which bodes well for construction spending through the first half of 2016. The August … Read more