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
| Dec 8, 2011
Keast & Hood Co. part of Statue of Liberty renovation team
Keast & Hood Co., is the structural engineer-of-record for the year-long $27.25 million renovation of the Statue of Liberty.
| Dec 8, 2011
HDR opens office in Shanghai
The office, located in the Chong Hing Finance Center in Shanghai’s busy Huangpu District, will support HDR’s design efforts throughout Asia.
| Dec 8, 2011
HOK elevates the green office standard
Firm achieves LEED Platinum certification in New York office that overlooks Bryant Park.
| Dec 7, 2011
ACE Mentor Program receives Presidential Award for Excellence in Science, Math and Engineering Mentoring
Thornton Tomasetti founding principal Charles H. Thornton responsible for launching ACE.
| Dec 7, 2011
NSF International qualifies first wallcoverings distributor to the New American National Standard for Sustainable Wallcoverings
TRI-KES demonstrates leadership in environmental stewardship as the first distributor to earn qualification.
| Dec 7, 2011
DPR Foundation awards $590,000 to youth organizations
Grants will fund programs for disadvantaged kids across six states.
| Dec 7, 2011
Autodesk agrees to acquire Horizontal Systems
Acquisition extends and accelerates cloud-based BIM solutions for collaboration, data, and lifecycle management.
| Dec 7, 2011
ICS Builders and BKSK Architects complete St. Hilda’s House in Manhattan
The facility's design highlights the inherent link between environmental consciousness and religious reverence.
| Dec 6, 2011
Construction industry leaders gather for forum on diversity
Declared a “groundbreaking” event for the industry, Gilbane’s First Annual National Partners Council Forum addressed diversity and inclusion as well as building partnerships with minority, veteran, and women-owned businesses.