flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Nonresidential construction remains unchanged in April

Market Data

Nonresidential construction remains unchanged in April

Private sector spending increased 0.8% on a monthly basis and is up 5.3% from a year ago.


By ABC | June 4, 2018

Nonresidential construction spending remained unchanged in April on a monthly basis, according to an Associated Builders and Contractors (ABC) analysis of U.S. Census Bureau data released today. However, year-over-year spending was up a sturdy 6.1%.

Private sector spending increased 0.8% on a monthly basis and is up 5.3% from a year ago. Public sector spending fell 1.4% in April, but is up 7.3% year over year.

“Between today’s employment and construction spending reports, it is clear that the economy continues to exhibit strong momentum and abundant confidence,” said ABC Chief Economist Anirban Basu. “It’s important to remember that the construction spending data generally have failed to display as much economic strength as many other indicators. Even the most recent monthly readings on construction spending were unspectacular, but the year-over-year numbers are consistent with ongoing economic and industry progress.

“Perhaps most encouraging is the growing strength of the public categories,” said Basu. “For many years, public construction spending languished even as private categories demonstrated growing vigor. With the dramatic improvement in state and local government finances in many communities in recent years, there is greater capacity to invest in infrastructure. Not coincidentally, construction spending in the transportation category rose 22% during the past year. Spending in the public safety category, which includes spending on police and fire stations, is up by nearly 17%.

“As always, there is a need to pay attention to any clouds forming on the horizon,” said Basu.  “Inflationary pressures continue to build, with tariffs on steel and aluminum likely to accelerate construction materials price appreciation during the next several months. Interest rates are expected to head higher, though perhaps only in fits and starts. Wage pressures also continue to build. The implication is that the cost of financing construction projects is on the rise. Should those costs rise too quickly, the momentum presently observable in nonresidential construction spending and employment data could quickly dissipate.”

 

 

Related Stories

Market Data | Mar 26, 2020

Senate coronavirus relief bill's tax and lending provisions will help construction firms, but industry needs additional measures

Construction officials say measure will help firms cope with immediate cash flow crunch, but industry needs compensation for losses.

Market Data | Mar 25, 2020

Engineering and construction materials prices fall for first time in 40 months on coronavirus impacts, IHS Markit says

Survey respondents reported falling prices for five out of the 12 components within the materials and equipment sub-index.

Market Data | Mar 23, 2020

Coronavirus will reshape UAE construction

The impact of the virus has been felt in the UAE, where precautionary measures have been implemented to combat the spread of the virus through social distancing.

Coronavirus | Mar 20, 2020

Pandemic has halted or delayed projects for 28% of contractors

Coronavirus-caused slowdown contrasts with January figures showing a majority of metro areas added construction jobs; Officials note New infrastructure funding and paid family leave fixes are needed.

Market Data | Mar 17, 2020

Construction spending to grow modestly in 2020, predicts JLL’s annual outlook

But the coronavirus has made economic forecasting perilous.

Market Data | Mar 16, 2020

Grumman/Butkus Associates publishes 2019 edition of Hospital Benchmarking Survey

Report examines electricity, fossil fuel, water/sewer, and carbon footprint.

Market Data | Mar 12, 2020

New study from FMI and Autodesk finds construction organizations with the highest levels of trust perform twice as well on crucial business metrics

Higher levels of trust within organizations and across project teams correlate with increased profit margins, employee retention and repeat business that can all add up to millions of dollars of profitability annually.

Market Data | Mar 11, 2020

The global hotel construction pipeline hits record high at 2019 year-end

Projects currently under construction stand at a record 991 projects with 224,354 rooms.

Market Data | Mar 6, 2020

Construction employment increases by 43,000 in February and 223,000 over 12 months

Average hourly earnings in construction top private sector average by 9.9% as construction firms continue to boost pay and benefits in effort to attract and retain qualified hourly craft workers.

Market Data | Mar 4, 2020

Nonresidential construction spending attains all-time high in January

Private nonresidential spending rose 0.8% on a monthly basis and is up 0.5% compared to the same time last year.

boombox1
boombox2
native1

More In Category


Contractors

Nonresidential construction spending decreased 0.2% in June

National nonresidential construction spending declined 0.2% in June, 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 $1.21 trillion. Nonresidential construction has expanded 5.3% from a year ago.



Construction Costs

Data center construction costs for 2024

Gordian’s data features more than 100 building models, including computer data centers. These localized models allow architects, engineers, and other preconstruction professionals to quickly and accurately create conceptual estimates for future builds. This table shows a five-year view of costs per square foot for one-story computer data centers. 

halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021