Construction Spending Posts Solid Monthly, Year-Over-Year Increases in March

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Construction spending increased by 8 percent in March compared to a year earlier and was also up slightly between February and March amid growing demand for many types of construction, as the spending total hit the highest level since October 2007, according to a recent analysis by the Associated General Contractors of America. Association officials said the growth comes amid strong private-sector demand and new federal investments in surface transportation programs. “Construction should be a significant contributor to economic growth in the remainder of 2016 and beyond,” said Ken Simonson, the association’s chief economist. “Right now the biggest challenge for … Read more

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Construction Spending Posts Strong Monthly, Year-Over-Year in January

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Construction spending soared in January from a month earlier and all major segments posted hefty year-over-year gains, pushing the total to the highest level since October 2008, according to a recent analysis by the Associated General Contractors of America. Association officials said the new spending figures indicate that demand for construction remains robust amid broader economic concerns. “There were solid gains for both the month and year in apartment, nonresidential and highway construction,” said Ken Simonson, the association’s chief economist. “Although favorable weather may have boosted these results, demand for many types of projects remains strong despite worries that the … Read more

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Construction Spending Forecast at 9.7 Percent Growth in 2016

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PROVIDENCE, R.I. – Gilbane Building Company has released its winter economic report: Building for the Future Construction Economics: Market Conditions in Construction, which provides an overview of 2015-2016 trends that impact growth, spending and the labor market that shape the construction industry. The report shows that this may end up the most active three-year period of growth in construction in more than 20 years, having been ongoing since 2013-2014 periods. With the forecast for 2016 taken into account, spending growth could reach a new three-year high. For those expecting growth, the nonresidential buildings construction boom could become an historic expansion. … Read more

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Construction Spending Ends Year on Mixed Note

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Construction spending inched up in December from a month earlier and increased solidly over the year but the major components showed divergent trends, according to an analysis by the Associated General Contractors of America. Association officials cautioned that slowdown in spending in a number of key, private nonresidential categories could reflect broader financial uncertainty and undermine the sector’s recovery. “Home and apartment construction continued growing strongly while public construction, particularly for highways, has also advanced,” said Ken Simonson, the association’s chief economist. “But spending on most private nonresidential categories has stalled or turned negative in the past several months. Contractors … Read more

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