National nonresidential construction spending increased 0.3% in September, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.1 trillion.
Spending was down on a monthly basis in 9 of the 16 nonresidential subcategories. Private nonresidential spending increased 0.1%, while public nonresidential construction spending was up 0.5% in September.
“Nonresidential construction spending increased for the 16th straight month in September,” said ABC Chief Economist Anirban Basu. “While some private categories, including power, commercial and amusement and recreation saw healthy month-over-month increases, publicly financed construction accounted for more than 72% of September’s rise. Given increased federal infrastructure spending and exorbitant financing costs for private construction, that dynamic should remain firmly in place over the coming months.”
“Despite a small decrease in spending in September, manufacturing construction remains the nonresidential sector’s outperformer,” said Basu. “Spending in the category is up 62% over the past year and accounts for nearly 43% of the year-over-year increase in nonresidential construction put in place. With several industrial megaprojects ongoing, spending in the manufacturing segment will remain elevated for several quarters.”
Related Stories
| Jul 18, 2012
Architecture giants spreading their wings
A/AE Giants 300 rankings reveal firms branching out globally, merging, adding services.
| Jul 18, 2012
Green expert Kats joins GreenWizard as an advisor
Kats' role is to help further expand GreenWizard’s impact in the sustainable construction industry.
| Jul 18, 2012
Construction employment stagnates in June
Lack of hiring in construction combined with job growth elsewhere threatens to create skilled-labor gap once contractors are ready to hire again.
| Jul 17, 2012
AIA and Architecture for Humanity select Disaster Response Grant recipients
Awards help each group implement their locally driven preparedness project in the second half of the year.
| Jul 17, 2012
KM/Plaza changes name to Plaza Construction
Lands new projects including the Perry South Beach Hotel and Dadeland Mall Kendall Wing Expansion.
| Jul 17, 2012
KBE Building awarded Platinum STEP Award
STEP program provides analysis of safety and loss prevention programs, measure safety program improvements, and provide performance recognition.
| Jul 17, 2012
Dr. Phillips Charities Headquarters Building receives LEED Silver
The building incorporates sustainable design features, environmentally-friendly building products, energy efficient systems, and environmentally sensitive construction practices.
| Jul 16, 2012
BD+C Under 40 Leadership Summit scheduled
Attendee registration for U40 Summit II now open.
| Jul 16, 2012
Construction spending at 2 ½ year peak
Construction economist Ken Simonson says that four private nonresidential categories each posted 12-month spending increases of more than 25%: power and energy construction, 35%; hotels, 29%; educational and manufacturing, 27% apiece.
| Jul 16, 2012
Reed Construction hires new project manager
Fread is a LEED AP and received his degree from Purdue University.
