Nonresidential Construction Spending Falls Slightly in March, Says ABC

  • Posted on

National nonresidential construction spending fell 0.1% in March and is up 2.0% compared to the same time last year, according to an Associated Builders and Contractors analysis of data recently published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $802.6 billion for the month. Among 16 nonresidential subcategories, 12 experienced a decline in spending on a monthly basis. Private nonresidential spending fell 1.3% from February, while public nonresidential construction spending increased 1.6%. “Today’s data release answers precious few questions,” said ABC Chief Economist Anirban Basu. “The great debate has been whether the combination of pre-existing … Read more

Filed under: Economic NewsTagged with: , , ,

February Rise in Construction Outlays Contrasts with Pandemic-Drive Collapse in March, AGC Says

  • Posted on

Construction spending in February increased 6% from February 2019, with year-over-year gains in both residential and nonresidential outlays, according to a new analysis of federal data released by the Associated General Contractors of America. Association officials cautioned that their latest survey shows conditions for contractors have deteriorated rapidly since February. They called on Congress to urgently pass targeted recovery measures to boost infrastructure funding, compensate firms for lost or delayed federally funded work, and provide needed pension relief. “Spending in February declined 1.3% from an upwardly revised, exceptionally strong pace in January that was aided by unusually mild winter weather … Read more

Filed under: Economic NewsTagged with: , ,

Industry Survey Shows Strong 2020 Demand for Projects and Workers

  • Posted on

Construction spending rose 4.1% from November 2018 to November 2019, while industry employment grew in 226, or 63%, out of 358 metro areas, according to a new analysis of federal data released by the Associated General Contractors of America. Association officials noted that its recent survey found most contractors are optimistic about the dollar value of projects available and expect to keep adding workers in 2020 but they are finding it hard to fill positions and anticipate it will continue to be hard to hire employees. “Both the actual spending totals for November and our members’ expectations for 2020 point … Read more

Filed under: Economic NewsTagged with: , ,

Marcum Commercial Construction Index Reports Nonresidential Construction Industry Slows, Economy Cools 

  • Posted on

The Marcum Commercial Construction Index for the second quarter of 2019 reports construction spending slowing as the economy signals confusion and indecisiveness. Nonresidential construction spending declined 1.8% on a monthly basis in June but is up 2.3 % year-over-year. Total nonresidential spending in June was $773.8 billion on a seasonally adjusted annual basis, as compared to $756.4 billion in June 2018. The index is produced by Marcum’s National Construction Services group.   Eleven of the 16 nonresidential construction sectors expanded year-over-year, including lodging, office, healthcare, public safety, amusement and recreation, transportation, highway and street, sewage and waste disposal, water supply, … Read more

Filed under: Economic NewsTagged with: , ,

Construction Spending Deteriorates in June, Multifamily + Nonresidential Categories Increase First Half 2019

  • Posted on

Construction spending declined in June from May 2019 and June 2018 levels, but most categories other than single-family homebuilding ended the first half of the year ahead of the year-to-date totals for 2018, according to a recent analysis by the Associated General Contractors of America of new federal spending data. Association officials said that the monthly declines in construction spending may reflect the fact contractors are having a difficult time finding enough workers to keep pace with demand. “Although the initial estimates for spending in June show decreases from May in all major categories, the first half of 2019 as … Read more

Filed under: Economic NewsTagged with: , , , , ,