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
| Apr 3, 2014
Security, accountability, and cloud access: Can you really have it all?
I’ve heard countless stories of conversations between project engineers and IT professionals who can’t come to an agreement on the level of security needed to protect their data while making it more accessible—not only externally, but also internally.
| Apr 2, 2014
The new model of healthcare facility management
A growing number of healthcare organizations are moving to an integrated real estate model in an effort to better manage costs, respond to regulatory requirements, and support changes in patient care delivery.
| Apr 2, 2014
8 tips for avoiding thermal bridges in window applications
Aligning thermal breaks and applying air barriers are among the top design and installation tricks recommended by building enclosure experts.
| Apr 2, 2014
Check out the stunning research facility just named 2014 Lab of the Year [slideshow]
NREL's Energy Systems Integration Facility takes top honors in R&D Magazine's 48th annual lab design awards.
| Apr 1, 2014
The risks of mismatched fire-rated assemblies
Mismatched fire-rated glass and framing happens more often than you think. Failing to confirm that the tested and listed performance capabilities of the framing system match those of the glazing can create a financial nightmare for the entire building team.
| Apr 1, 2014
Planned global commerce center breaks ground near Phoenix
When completed, PhoenixMart will be one of the largest single-level trade centers in the U.S.
| Apr 1, 2014
Paints, coatings and sealants: Choosing products and procedures for best performance
This course covers life cycle assessment, color selection, emissions, durability, resilience, corrosion resistance, specification standards, and other critical aspects of choosing coatings for interior and exterior walls, ceilings, and roofs.
| Mar 31, 2014
Extreme conversion: Soaring Canadian church transformed into contemporary library
Even before the St. Denys-du-Plateau Church was converted into a library, it was an unusual building, with a towering nave designed to mimic a huge tent inflated by the wind.
| Mar 31, 2014
Tips for creating a competitive bid using codes and loads
Landing a project feels like winning a prize, sort of like finding that forgotten $20 bill in the pocket of a pair of jeans you haven’t worn in a while. But living on the “chance” of winning a job isn’t a great way to pay your electric bill. So, how do you swing the chances in your favor?
Sponsored | | Mar 30, 2014
Ontario Leisure Centre stays ahead of the curve with channel glass
The new Bradford West Gwillimbury Leisure Centre features a 1,400-sf serpentine channel glass wall that delivers dramatic visual appeal for its residents.
