Construction Spending Rose in January from December, January 2021, Reports AGC

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Construction spending increased in January compared to both December and a year ago, with strong gains in private nonresidential and residential construction but mixed results for public spending, according to an analysis of federal spending data the Associated General Contractors of America. Association leaders urged Washington officials to speed the award of funds promised by the Bipartisan Infrastructure law. “Private nonresidential construction, especially for manufacturing plants, has rebounded sharply in recent months, while demand for housing remains strong,” said Ken Simonson, the association’s chief economist. “But public projects have yet to grow consistently.” Construction spending in January totaled $1.68 trillion … Read more

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Most Infrastructure Categories Post Year-to-Date Declines Compared to 1st 8 Months of 2020, Reports AGC

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Total construction spending was flat between July and August, as a decrease in nonresidential projects offset continuing gains in residential construction, according to a new analysis of federal construction spending data the Associated General Contractors of America. Officials urged the House of Representatives to promptly approve the bipartisan infrastructure bill that passed in the Senate earlier this year, noting that spending on infrastructure in the first eight months of 2021 declined from year-earlier levels. “Nearly every nonresidential spending segment has deteriorated from already inadequate 2020 levels in the first two-thirds of this year,” said Ken Simonson, the association’s chief economist. … Read more

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Nonresidential Construction Spending Shrinks, Says AGC

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Construction spending was a tale of two industries again in November, as soaring single-family construction masked ongoing downturns in private and public nonresidential construction, according to an analysis of new federal construction spending data by the Associated General Contractors of America. Association officials said the new figures underscore the need for new infrastructure investments and other measures to boost demand for nonresidential construction amid the pandemic. “Private nonresidential construction declined for the fifth-straight month in November, while public nonresidential spending slipped for the fifth time in the past six months,” said Ken Simonson, the association’s chief economist. “Unfortunately, our latest … Read more

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Nonresidential Construction Spending Remains Flat in October, Residential Construction Expands, says AGC

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The construction industry’s fortunes continued to diverge in October, as residential construction expanded again while nonresidential construction remained largely unchanged from a month ago and is down compared to last year, according to an analysis of new federal construction spending data by the Associated General Contractors of America. Association officials said that demand for nonresidential construction is being hit by private sector worries about the coronavirus, tighter state and local budgets and the lack of new federal pandemic relief measures.   “The October spending report shows private nonresidential construction is continuing to slide,” said Ken Simonson, the association’s chief economist. … Read more

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Dodge Momentum Index Posts Dip in October

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The Dodge Momentum Index fell 1.8% in October to 127.5 (2000=100) from the revised September reading of 129.8. The momentum index, issued by Dodge Data & Analytics, 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. The commercial component of the momentum index lost 4.4% over the month, but the institutional component gained 3.3%. The momentum index has struggled to make consistent gains since passing its post-pandemic low in June. Economic growth has slowed over the past few months, … Read more

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