ABC: Nonresidential Construction Spending Increases

  • Posted on

National nonresidential construction spending increased .4% 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 $1.09 trillion. Spending was up on a monthly basis in 12 of the 16 nonresidential subcategories. Private nonresidential spending increased by .3%, while public nonresidential construction spending was up .6% in August.

Filed under: Economic NewsTagged with: ,

Analysis of Contractor Surveys Shows Construction Workforce Shortage is Disproportionately Impacting Nonunion Firms

  • Posted on

A review of 2018-21 Associated General Contractors of America surveys of more than 5,000 member firms nationwide reveals that nonunion construction firms are facing significantly greater workforce supply problems than their union counterparts. These problems preceded the COVID-19 pandemic. The surveys, which include responses from 1,768 union contractors and 3,893 nonunion contractors, were analyzed by researchers from the nonpartisan Illinois Economic Policy Institute and the Project for Middle Class Renewal at the University of Illinois at Urbana-Champaign. The Associated General Contractors of America represents more than 27,000 construction firms nationally. It releases its topline survey data each September and, since … Read more

Filed under: Economic News, eNewsTagged with: , , , , , ,

Nonresidential Construction Spending Slips Modestly in May, Says ABC

  • Posted on

According to a recent Associated Builders and Contractors analysis of U.S. Census Bureau data, national nonresidential construction spending declined 0.9% in May, totaling $788.5 billion on a seasonally adjusted annualized basis and a 4.4% increase compared to the same time last year. While total public and private nonresidential spending declined 0.9% since April, public spending was up 11.2% and private spending was down 0.1% year over year. Among the 16 nonresidential construction spending categories tracked by the Census Bureau, five experienced increases in monthly spending, including transportation (4%), communication (1.3%) and public safety (1.2%). Religious (-5.5%), commercial (-3.3%) and highway … Read more

Filed under: Economic NewsTagged with: , ,

Nonresidential Construction Maintains Momentum in December, ABC Says

  • Posted on

WASHINGTON, D.C. – Nonresidential construction spending expanded 0.8 percent in December, totaling $720.4 billion on a seasonally adjusted basis, according to Associated Builders and Contractors’ analysis of data released by the U.S. Census Bureau. This represents the fifth consecutive month during which the pace of nonresidential spending has increased. Nonresidential spending expanded 0.1 percent on a year-over-year basis and sits at its highest level since March. Private nonresidential construction spending increased 1.1 percent for the month, but is down 2.5 percent year over year, while public nonresidential spending increased 0.4 percent for the month and 4.4 percent for the year. … Read more

Filed under: Economic NewsTagged with: , ,

Construction Spending Up in September, Down on YOY Basis

  • Posted on

WASHINGTON, D.C. – Nonresidential construction spending rose .5 percent in September, totaling $698.1 billion on a seasonally adjusted basis, according to an Associated Builders and Contractors analysis of data from the U.S. Census Bureau. However, nonresidential construction spending is down 2.9 percent on a year-over-year basis, with construction spending related to manufacturing down 20.3 percent since September 2016. August and July nonresidential spending totals were revised upwards by a collective $11 billion, however. “There is a lot of positive news about the U.S. economy right now,” said ABC Chief Economist Anirban Basu. “The nation has added nearly 1.8 million net … Read more

Filed under: Economic NewsTagged with: , ,