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

  • Posted on

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

Filed under: Economic NewsTagged with: , , , ,

Nonresidential Construction Spending Shrinks, Says AGC

  • Posted on

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

Filed under: Economic NewsTagged with: , ,

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: , , ,

Modest Increase in Nonresidential Spending in April, says ABC

  • Posted on

According to an Associated Builders and Contractors analysis of U.S. Census Bureau data recently released, national nonresidential construction spending rose .3% in April, totaling $792.6 billion on a seasonally adjusted annualized basis, which is a 6.4% increase compared to the same time last year. While public nonresidential spending expanded 4.8% on a monthly basis and increased 15.4% since April 2018, private nonresidential spending fell 2.9% in April and is up just 0.6 % year-over-year. Among the 16 nonresidential construction spending categories, nine experienced an increase in monthly spending, with the largest increases registered in water supply (9.8%), highway and street … Read more

Filed under: Economic NewsTagged with: , ,

Projections Reveal Nonresidential Construction Spending to Grow

  • Posted on

Spending on nonresidential buildings nationally increased only modestly last year, barely outpacing inflation in building costs. Halfway through the seventh year of continuous growth for the cyclical construction industry, 2018 might have looked to be the year that the industry would enter another recession. However, when polled at the beginning of this year, the AIA Consensus Construction Forecast Panel—consisting of leading economic forecasters— instead saw acceleration in activity, projecting 4 percent growth in 2018 and a nearly equal 3.9 percent in 2019. “At the halfway point of the year, this panel is even more optimistic,” said AIA Chief Economist Kermit … Read more

Filed under: Economic NewsTagged with: , , , ,