Spending on Nonresidential Building Construction Continues to Slow

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Spending on nonresidential construction is projected to increase only 1.7% this year and grow very modestly to just 2% next year, according to The American Institute of Architects mid-year Consensus Construction Forecast. The outlook by the AIA Consensus Construction Forecast estimates the commercial sector outlook is about on par with the broader industry, with a projected 1.5% increase this year rising to 3.9% in 2026. Spending on the construction of manufacturing facilities – the industry bright spot in recent years – is expected to decline 2% this year with an additional declined of 2.6% next year. Institutional facilities are expected … Read more

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Nonresidential Construction Spending Down 0.2% in May, Says ABC

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National nonresidential construction spending decreased 0.2% in May, according to an Associated Builders and Contractors’ analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.237 trillion. Spending was down on a monthly basis in half of the nonresidential subcategories. Private nonresidential spending was down 0.4%, while public nonresidential construction spending was practically unchanged in May. “Nonresidential construction spending declined for the fourth straight month in May,” said ABC Chief Economist Anirban Basu. “Private sector nonresidential activity remains particularly weak and is down nearly 7% from its January 2023 peak. Manufacturing investment, … Read more

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ABC: Nonresidential Construction Spending Dips .1% in November, Flat Year Over Year

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National nonresidential construction spending declined .1% in November, according to an Associated Builders and Contractors’ analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.234 trillion. On a year-over-year basis, nonresidential construction spending is up 2.8%, approximately flat in inflation-adjusted terms. Spending was down on a monthly basis in 8 of the 16 nonresidential subcategories. Private nonresidential spending was unchanged, while public nonresidential construction spending was down 0.2% in November. “Contractor confidence surged post-election,” said ABC Chief Economist Anirban Basu. “Many contractors expect a combination of deregulation and tax cuts to … Read more

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Storms Suppress Nonresidential Construction Spending in October, Says ABC

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National nonresidential construction spending decreased 0.4% in October, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.228 trillion. Spending was down on a monthly basis in 11 of the 16 nonresidential subcategories. Private nonresidential spending decreased 0.3%, while public nonresidential construction spending was down 0.5% in October. “Total construction spending rose sharply in October, but that was entirely due to a sharp increase in residential activity,” said ABC Chief Economist Anirban Basu. “Nonresidential construction spending contracted for the month, and the declines … Read more

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Nonresidential Construction Spending Inches Up in August, Says ABC

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National nonresidential construction spending increased 0.1% in August, according to an Associated Builders and Contractors’ analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.22 trillion. Spending was up on a monthly basis in 10 of the 16 nonresidential subcategories. Private nonresidential spending decreased 0.1%, while public nonresidential construction spending was up 0.3% in August. “Nonresidential construction spending inched higher in August, and that’s almost entirely due to ongoing infrastructure investments,” said ABC Chief Economist Anirban Basu. “Public spending accounted for all of the nonresidential segment’s monthly increase and has risen … Read more

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