Nonresidential construction spending inched up in April according to the June 2 release by the U.S. Census Bureau. This is the second consecutive month spending has increased following March’s upwardly revised spending report.
Nonresidential construction spending expanded by 0.4% on a monthly basis in April and has risen 3.9% on a year-over-year basis. Spending for the month totaled $570.6 billion on a seasonally adjusted, annualized basis.
“Unsurprisingly, nonresidential construction spending has improved with the weather,” said Associated Builders and Contractors Chief Economist Anirban Basu. “As a result of the unusually harsh winter weather, spending declines appeared large during the winter months and subsequent monthly gains have perhaps been a bit exaggerated as well. While the monthly numbers may be skewed, the year-over-year advance of 3.9% seems to realistically capture the rate of improvement in nonresidential construction spending.”
“The U.S. economy has recovered its momentum since the first quarter, suggesting that nonresidential construction’s steady recovery will remain in place,” said Basu. “Indeed, measures of business confidence have improved significantly and there are indications that capital spending is set to accelerate.”
Ten of 16 nonresidential construction subsectors posted increases in spending in April.
• Lodging construction spending is up 1.9% on a monthly basis and is up 16.9% on a year-over-year basis.
• Office-related construction spending grew by 1.7% in April and is up 20% from the same time one year ago.
• Construction spending in the transportation category expanded 3.4% on a monthly basis and has expanded 8% on an annual basis.
• Religious spending grew 1.8% for the month but is down 5.9% from the same time last year.
• Education-related construction spending gained 2.7% for the month and is up 2.9% on a year-over-year basis.
• Commercial construction spending rose 1.2% in April and is up 5.9% on a year-over-year basis.
• Sewage and waste disposal-related construction spending gained 4% for the month but has fallen 5.5% from the same time last year.
• Amusement and recreation-related construction spending expanded 4.4% on a monthly basis and is up 3.2% from the same time last year.
• Health care-related construction spending grew 0.9% for the month, but is down 6.2% on a year-over-year basis.
• Conservation and development-related construction spending expanded by 3.6% for the month and is up 19.7% on an annual basis.
Spending in six nonresidential construction subsectors declined in April.
• Spending in the water supply category fell 0.2% on the month and is down 12.8% from the same time last year.
• Manufacturing-related spending fell 1.1% on a monthly basis, but is up 6.7% on an annual basis.
• Highway and street-related construction spending fell 1.1% in April, but is up 4.8% compared to the same time last year.
• Communication construction spending was down 11.7% for the month but is up 21% from the same time one year ago.
• Public safety-related construction spending fell 0.9% on a monthly basis and has declined 12.4% on a year-over-year basis.
• Power construction spending dipped 1.2% for the month and was 1.6% lower than the same time one year prior.
Related Stories
AEC Tech | Apr 13, 2022
A robot automates elevator installation
Schindler—which manufactures and installs elevators, escalators, and moving walkways—has created a robot called R.I.S.E. (robotic installation system for elevators) to help install lifts in high-rise buildings.
Government Buildings | Apr 11, 2022
Milan’s new US Consulate celebrates Italian design
In Milan, Italy, the new U.S. Consulate General broke ground on April 6. Managed by Overseas Buildings Operations (OBO), a U.S. government agency that directs overseas builds, the 10-acre campus will feature a new Consulate building, as well as the restoration of the site’s historic Liberty Building and reconstruction of a pavilion on the 80,000-square-foot parade ground.
Sponsored | BD+C University Course | Apr 10, 2022
Designing with commercial and industrial insulated metal wall panels
Discover the characteristics, benefits and design options for commercial/industrial buildings using insulated metal panels (IMPs). Recognize the factors affecting panel spans and the relationship of these to structural supports. Gain knowledge of IMP code compliance.
Laboratories | Apr 7, 2022
North Carolina's latest play for biotech real estate development
The Tar Heel State is among a growing number of markets rolling out the welcome mat for lab spaces.
Healthcare Facilities | Apr 7, 2022
Visibility breeds traffic in healthcare design
Ryan Companies has completed several healthcare projects that gain exposure by being near retail stores or office buildings.
Multifamily Housing | Apr 7, 2022
Ken Soble Tower becomes world’s largest residential Passive House retrofit
The project team for the 18-story high-rise for seniors slashed the building’s greenhouse gas emissions by 94 percent and its heating energy demand by 91 percent.
Architects | Apr 7, 2022
Perkins Eastman, Kliment Halsband Architects to merge
Perkins Eastman and Kliment Halsband Architects have announced their merger, which will combine the formidable talents, experience, and skills of both legacy firms. With Perkins Eastman celebrating its 40th anniversary and Kliment Halsband celebrating its 50th, this merger promises to create powerful synergies.
Urban Planning | Apr 5, 2022
The art of master planning, with Mike Aziz of Cooper Robertson
Mike Aziz, AIA, LEED AP, Partner and Director of Urban Design with Cooper Robertson, discusses his firm's design for the redevelopment of a Connecticut town's riverfront.
Multifamily Housing | Apr 5, 2022
New Covenant House New York contains multiple services for youth in crisis
The new Covenant House New York, a crisis shelter for homeless youth in the Hell’s Kitchen neighborhood, provides a temporary home and multiple services for young people.
Sponsored | BD+C University Course | Apr 1, 2022
Video surveillance systems for multifamily housing projects
This introductory course provides detailed technical information and advice from security expert Michael Silva, CPP, on designing a video surveillance system for multifamily housing communities – apartments, condominiums, townhouses, or senior living communities. Technical advice on choosing the right type of cameras and optimizing the exterior lighting for their use is offered.