ABC: Nonresidential Construction Spending Contracts in 6 of Past 7 Months

  • Posted on

National nonresidential construction spending decreased 0.1% in June, 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 $1.241 trillion. Spending was down on a monthly basis in 9 of the 16 nonresidential subcategories. Private nonresidential spending fell 0.3% for the month, while public nonresidential construction spending inched 0.1% higher. “Nonresidential construction spending declined in June and has now contracted in 6 of the past 7 months,” said ABC Chief Economist Anirban Basu. “Recent declines would be worse if not for ongoing increases in public […]

Filed under: Economic NewsTagged with: , ,

Nonresidential Construction Spending Down 0.2% in May, Says ABC

  • Posted on

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, […]

Filed under: Economic NewsTagged with: , , ,

Associated Builders and Contractors Releases Latest Construction Spending Analysis

  • Posted on

National nonresidential construction spending decreased .5% in March, 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 $1.25 trillion. Spending was down on a monthly basis in 11 of the 16 nonresidential subcategories. Private nonresidential spending fell .8%, while public nonresidential construction spending was down .2% in March. “Nonresidential construction spending fell sharply in March, with declines spread across virtually every private subsector,” said ABC Chief Economist Anirban Basu. “Data center investments, which accounted for more than 70% of the increase in private nonresidential […]

Filed under: Economic NewsTagged with: , ,

ABC: Nonresidential Construction Spending Slips 0.1% But Remains Elevated

  • Posted on

National nonresidential construction spending decreased 0.1% 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 $1.21 trillion. Spending declined on a monthly basis in 9 of the 16 nonresidential subcategories. Private nonresidential spending decreased 0.3%, while public nonresidential construction spending was up 0.4% in May. Visit abc.org/economics for the Construction Backlog Indicator and Construction Confidence Index, plus analysis of spending, employment, job openings and the Producer Price Index.

Filed under: Economic NewsTagged with: ,

Gilbane Building Company Releases Q2 2024 Market Conditions Report

  • Posted on

Gilbane Building Company released its Q2 2024 Market Conditions Report. The quarterly report provides a national macroeconomic view of the overall economy and its impacts on the U.S. construction industry, focusing on market-driven data, end-to-end supply chain constraints, equipment and material availability, costs and risk mitigation strategies. This quarter, the report added two new features: a regional overview of market conditions as reported by Gilbane’s preconstruction teams across the country and a supply chain spotlight feature, focused on the impact of disruptions to global ocean shipping routes on U.S. construction supply chains. Q2 construction market overview takeaways include: Following strong […]

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