Nonresidential construction spending fell 0.9 percent from August to September 2016, according to analysis of U.S. Census Bureau data released today by Associated Builders and Contractors (ABC). Nonresidential spending totaled $690.5 billion on a seasonally adjusted, annualized basis for the month, 0.7 percent below September 2015’s figure.
The government revised the August nonresidential construction spending estimate from $686.6 billion to $696.6 billion; otherwise September spending would have risen on a month-over-month basis. Eleven of 16 nonresidential construction subsectors experienced monthly declines.
“A number of primarily publicly financed construction segments have experienced declines in spending over the past year, including sewage and waste disposal (-18.8%), water supply (-13.7%), public safety (-13.0%) and transportation (-11.3%). Meanwhile, the level of construction spending in office, lodging and commercial segments is up on a year-over-year basis, though spending in the office and commercial categories was down on a month-over-month basis and lodging-related construction was roughly flat,” says ABC Chief Economist Anirban Basu. “Nonresidential construction spending growth may not accelerate anytime soon, though there is some hope that the period following the elections will usher forth a period of renewed spending growth."
Related Stories
Market Data | Aug 10, 2020
5 must reads for the AEC industry today: August 10, 2020
Private student housing owners reap the benefits as campus housing de-densifies and race for COVID vaccine boosts real estate in life sciences hubs.
Market Data | Aug 7, 2020
6 must reads for the AEC industry today: August 7, 2020
BD+C's 2020 Color Trends Report and HMC releases COVID-19 Campus Reboot Guide for Prek-12 schools.
Market Data | Aug 6, 2020
6 must reads for the AEC industry today: August 6, 2020
Oklahoma State's new North Academic Building and can smart buildings outsmart coronavirus?
Market Data | Aug 5, 2020
6 must reads for the AEC industry today: August 5, 2020
San Jose's new tallest tower and Virginia is the first state to adopt COVID-19 worker safety rules.
Market Data | Aug 4, 2020
7 must reads for the AEC industry today: August 4, 2020
Construction spending decreases for fourth consecutive month and 100% affordable housing development breaks ground in Mountain View.
Market Data | Aug 3, 2020
Construction spending decreases for fourth consecutive month in June
Association officials warn further contraction is likely unless federal government enacts prompt, major investment in infrastructure as state and local governments face deficits.
Market Data | Aug 3, 2020
6 must reads for the AEC industry today: August 3, 2020
The future is a number game for retail and restaurants and 5 reasons universities are renovating student housing.
Market Data | Jul 31, 2020
5 must reads for the AEC industry today: July 31, 2020
Vegas's newest resort and casino is packed with contactless technology and Mariott, Hilton, and IHG dominate the U.S. hotel construction pipeline.
Market Data | Jul 30, 2020
Marriott, Hilton, and IHG continue to dominate the U.S. hotel construction pipeline at Q2’20 close
Hilton’s Home2 Suites and IHG’s Holiday Inn Express continue to be the most prominent brands in the U.S. pipeline.
Market Data | Jul 30, 2020
7 must reads for the AEC industry today: July 30, 2020
Millennium Tower finally has a fix and construction costs decrease for the first time in 10 years.