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
| Jan 8, 2014
Architect sentenced to a year in jail for firefighter's death
Architect Gerhard Becker was sentenced to a year in LA county jail after pleading no contest to the manslaughter of a firefighter who died while trying to contain a fire in a home the architect had designed for himself.
| Jan 7, 2014
Concrete solutions: 9 innovations for a construction essential
BD+C editors offer a roundup of new products and case studies that represent the latest breakthroughs in concrete technology.
Smart Buildings | Jan 7, 2014
9 mega redevelopments poised to transform the urban landscape
Slowed by the recession—and often by protracted negotiations—some big redevelopment plans are now moving ahead. Here’s a sampling of nine major mixed-use projects throughout the country.
| Jan 6, 2014
What is value engineering?
If you had to define value engineering in a single word, you might boil it down to "efficiency." That would be one word, but it wouldn’t be accurate.
| Jan 6, 2014
Green Building Initiative names Jerry Yudelson as new President
The Green Building Initiative announced today that it has named Jerry Yudelson as its president to accelerate growth of the non-profit and further leverage its green building assessment tools, including the highly recognized Green Globes rating system.
| Jan 6, 2014
An interview with Jerry Yudelson, President, The Green Building Initiative
Green building consultant Jerry Yudelson has been named President of the Green Building Initiative and the Green Globes rating program. BD+C's Robert Cassidy talks with Yudelson about his appointment and the future of Green Globes.
| Jan 3, 2014
Norman Foster proposes elevated bikeways throughout London
Called SkyCycle, the plan calls for the construction of wide, car-free decks atop the city's existing railway corridors.
| Jan 3, 2014
World’s tallest vegetated façade to sprout in Sri Lanka [slideshow]
Set to open in late 2015, the 46-story Clearpoint Residences condo tower will feature planted terraces circling the entire structure.
| Dec 31, 2013
Top 10 blog posts from 2013
BD+C editors and our contributors posted hundreds of blogs in 2013. Here's a recap of the most popular topics. They include valuable lessons from one of the first BIM-related lawsuits and sage advice from AEC legend Arthur Gensler.
| Dec 31, 2013
BD+C's top 10 stories of 2013
The world's tallest twisting tower and the rise of augmented reality technology in construction were among the 10 most popular articles posted on Building Design+Construction's website, BDCnetwork.com.
