National nonresidential construction spending was down 0.4% in August, 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 $859.3 billion for the month.
Spending was down on a monthly basis in 10 of 16 nonresidential subcategories. Private nonresidential spending was down 0.1%, while public nonresidential construction spending was down 0.8% in August.
“The disparity between high contractor confidence and worrisome macroeconomic outcomes persists,” said ABC National Chief Economist Anirban Basu. “According to ABC’s Construction Confidence Index and Backlog Indicator, many contractors remain in expansion mode and expect to experience rising sales and profit margins going forward. Many also expect their employment levels to be higher in six months.
“But the nonresidential construction data indicate that consistent spending growth remains elusive,” said Basu. “Given the rising costs of project financing and delivering construction services, that is not surprising. Arguably, it is contractor confidence that is counterintuitive.
“Reconciling strong microeconomic perspective with weak macroeconomic outcomes involves looking at segment-specific data,” said Basu. “While some segments like office and lodging continue to struggle in the context of behavioral shifts wrought by the pandemic, other segments are showing significant momentum. This is especially apparent in certain public construction segments like water/sewer, highway/street and flood control.”
![Nonres spending growth August](/sites/default/files/inline-images/Nonres%20spending%20growth%20August.jpeg)
![Nonres construction spending August](/sites/default/files/inline-images/Nonres%20construction%20spending%20August.jpeg)
Related Stories
| Nov 27, 2012
SFIA releases technical guide for cold-formed steel framing products
The 114-page book covers both structural and non-structural applications, including section properties of SFIA member product profiles, and complete load and span tables for most applications.
| Nov 21, 2012
Architecture Billings Index positive for third straight month
All regions reporting positive business conditions
| Nov 20, 2012
PC Construction completes Juniper Hall at Champlain College
Juniper Hall is on track for LEED Gold certification from the U.S. Green Building Council.
| Nov 20, 2012
SchenkelShultz-designed Valencia at Lake Nona certified 3 Green Globes
Featuring the latest technologies, the three-story, academic facility includes academic spaces and teaching laboratories, student services, a book store, library, café, a Dean’s suite and administrative offices.
| Nov 14, 2012
U.S. Green Building Council partners with Pearson
Partnership will help further USGBC’s mission by advancing green building education
| Nov 14, 2012
U.S. Green Building Council announces grant from Google to catalyze transformation of building materials industry and indoor health
Focus is on healthy building materials to promote indoor environmental quality and human health
| Nov 14, 2012
USGBC's Greenbuild International Conference and Expo kicks off in San Francisco
7,000 members of the green building industry convene for opening plenary headlined by "Morning Joe" co-hosts Mika Brzezinksi and Joe Scarborough
| Nov 13, 2012
Have colleges + universities gone too far with "Quality of Life" buildings?
We'd like your input - recent projects, photo/s, renderings, and expert insight - on an important article we're working on for our Jan 2013 issue
| Nov 13, 2012
Turner Construction’s green building Market Barometer reveals new findings on green building and certification
Respondents indicated a widespread commitment to sustainable practices
| Nov 13, 2012
Soladigm announces new glass product, changes company name to View, Inc.
Glass is installed and operating at W San Francisco adjacent to the 2012 Greenbuild show