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 17, 2012
FMI report examines federal construction trends
Given the rapid transformations occurring in the federal construction sector, FMI examines the key forces accelerating these changes, as well as their effect on the industry.
| Apr 17, 2012
Freese and Nichols awarded Malcolm Baldridge National Quality Award
Freese and Nichols is the only engineering and architecture firm to ever receive this recognition.
| Apr 17, 2012
Miramar College police substation in San Diego receives LEED Platinum
The police substation is the first higher education facility in San Diego County to achieve LEED Platinum Certification, the highest rating possible.
| Apr 17, 2012
Alberici receives 2012 ASA General Contractor of the Year award
Alberici has been honored by the ASA eight times in the award’s nineteen-year history--more than any other general contractor in its class.
| Apr 16, 2012
Freeland promoted to vice president at Heery International
Recently named to Building Design+Construction’s 40 Under 40 Class of 2012.
| Apr 16, 2012
University of Michigan study seeks to create efficient building design
The result, the researchers say, could be technologies capable of cutting the carbon footprint created by the huge power demands buildings place on the nation’s electrical grid.
| Apr 16, 2012
UNT lab designed to study green energy technologies completed
Lab to test energy technologies and systems in order to achieve a net-zero consumption of energy.
| Apr 16, 2012
Shawmut awarded Tag Heuer builds in Florida and Pennsylvania
Both projects are scheduled to be completed this spring.
| Apr 16, 2012
Batson-Cook breaks ground on senior living center in Brunswick, Ga.
Marks the third Benton House project constructed by Batson-Cook.
| Apr 16, 2012
Altoon + Porter Architects renamed Altoon Partners
The global practice, with offices in Los Angeles, Amsterdam, and Shanghai, specializes in retail, residential and mixed-use developments.
