National nonresidential construction spending decreased 0.1% in May, 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 $1.21 trillion.
Spending declined on a monthly basis in 9 of the 16 nonresidential subcategories. Private nonresidential spending decreased 0.3%, while public nonresidential construction spending was up 0.4% in May.
“Nonresidential construction spending has fallen for two consecutive months yet remains just 0.2% below the all-time high achieved in March 2024,” said ABC Chief Economist Anirban Basu. “Much of that progress is attributable to ongoing infrastructure investments, which spurred a sizable 0.4% increase in publicly funded nonresidential spending in May.
“Private nonresidential spending has lagged and, after falling 0.3% in May, is up just 4.1% year over year,” said Basu. “That weakness can be tied to interest rate-sensitive segments like office and commercial, both of which have also been hampered by altered demand dynamics in the wake of the pandemic. Despite this recent private sector moderation, contractors remain confident about the next few quarters, with a majority expecting their sales to increase over the next six months, according to ABC’s Construction Confidence Index.”
Visit abc.org/economics for the Construction Backlog Indicator and Construction Confidence Index, plus analysis of spending, employment, job openings and the Producer Price Index.
Related Stories
| Sep 12, 2011
PVs play new roles as a teaching tool
Solar installations are helping K-12 schools around the country save money and teach students the intricacies of renewable energy sources.
| Sep 12, 2011
Living Buildings: Are AEC Firms up to the Challenge?
Modular Architecture > You’ve done a LEED Gold or two, maybe even a LEED Platinum. But are you and your firm ready to take on the Living Building Challenge? Think twice before you say yes.
| Sep 9, 2011
Hardinger joins Ryan Companies as vice president, mission critical
He will lead the Ryan team responsible for building and developing data centers and other mission-critical projects, and will oversee business development, client relationships, executive level communications and overall marketing strategies for the division.
| Sep 8, 2011
Boldt Co. reaches 4 million hours with a lost time accident
Four million hours. That’s an average of over 2,600 continuous safe work hours completed by every employee—the equivalent of one person working 24 hours a day for over 450 years.
| Sep 7, 2011
KSS Architects wins AIA NJ design award
The project was one of three to win the award in the category of Architectural/Non-Residential.
| Aug 31, 2011
Wythe Confectionary renovation in Brooklyn completed
Renovation retains architectural heritage while reflecting a modern urban lifestyle.
| Aug 31, 2011
Balfour Beatty Construction hires Portnoy to lead public-private partnerships
Portnoy will help lead and coordinate the pursuit and delivery of public-private partnerships within all of the company’s U.S. regions.
| Aug 24, 2011
Deadline Extended: 2012 "Best AEC Firms to Work For” Awards
We’re looking for firms that create truly positive workplaces for their AEC professionals and support staff. In other words, this awards program will recognize those AEC firms that nurture and develop their most valuable asset—their people.
| Aug 19, 2011
How and why AEC professionals choose flooring systems
Design and construction professionals who completed our flooring survey had strong opinions about their preferred flooring type.