Spending by U.S. businesses on new and used structures and equipment rose 4.5%, from $1.42 billion in 2012 to $1.49 billion in 2013, according to the latest economic data released today by the U.S. Census Bureau.
These findings come from the 2013 Annual Capital Expenditures Survey, which provides statistics on capital spending for new and used structures and equipment by U.S. non-farm businesses with and without paid employees. This survey, conducted annually since 1994, is an integral part of the federal government’s effort to improve and supplement ongoing statistical economic programs.
Highlights:
• Investments for new and used structures totaled $577.9 billion in 2013. The vast majority of this amount, $545.0 billion (94.3%), was spent on new structures. Expenditures for used structures totaled $33.0 billion (5.7%) in 2013.
• Investments in new and used equipment totaled $910.3 billion in 2013, up $57.0 billion (6.7%) from $853.2 billion in 2012. The majority of this amount (94.1%) was for new equipment, which totaled $856.7 billion in 2013, an increase of $56.5 billion (7.1%) from $800.2 billion in 2012. Expenditures for used equipment (5.9% of the amount) totaled $53.5 billion in 2013.
• Companies with employees accounted for $1.4 trillion (93.9%) of total capital spending in 2013.
• Of the 19 North American Industry Classification System (NAICS) major industry sectors covered in this report, only one sector had a statistically significant year-to-year decrease in capital spending: The utilities sector (NAICS 22) showed a decrease of 10.6%, from $125.0 billion in 2012 to $111.7 billion in 2013. Eight sectors had a statistically significant increase in capital spending and ten showed no statistically significant change during this period.
Related Stories
K-12 Schools | Sep 5, 2023
CHPS launches program to develop best practices for K-12 school modernizations
The non-profit Collaborative for High Performance Schools (CHPS) recently launched an effort to develop industry-backed best practices for school modernization projects. The Minor Renovations Program aims to fill a void of guiding criteria for school districts to use to ensure improvements meet a high-performance threshold.
Market Data | Sep 5, 2023
Nonresidential construction spending increased 0.1% in July 2023
National nonresidential construction spending grew 0.1% in July, 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 $1.08 trillion and is up 16.5% year over year.
Sports and Recreational Facilities | Sep 1, 2023
New Tennessee Titans stadium conceived to maximize types of events that can be hosted
The new Tennessee Titans stadium was conceived to maximize the number and type of events that the facility can host. In addition to serving as the home of the NFL’s Titans, the facility will be a venue for numerous other sporting, entertainment, and civic events. The 1.7-million sf, 60,000-seat, fully enclosed stadium will be built on the east side of the current stadium campus.
Office Buildings | Aug 31, 2023
About 11% of U.S. office buildings could be suitable for green office-to-residential conversions
A National Bureau of Economic Research working paper from researchers at New York University and Columbia Business School indicates that about 11% of U.S. office buildings may be suitable for conversion to green multifamily properties.
Adaptive Reuse | Aug 31, 2023
New York City creates team to accelerate office-to-residential conversions
New York City has a new Office Conversion Accelerator Team that provides a single point of contact within city government to help speed adaptive reuse projects. Projects that create 50 or more housing units from office buildings are eligible for this new program.
Codes and Standards | Aug 31, 2023
Community-led effort aims to prevent flooding in Chicago metro region
RainReady Calumet Corridor project favors solutions that use natural and low-impact projects such as rain gardens, bioswales, natural detention basins, green alleys, and permeable pavers, to reduce the risk of damaging floods.
Giants 400 | Aug 30, 2023
Top 75 Engineering Firms for 2023
Kimley-Horn, WSP, Tetra Tech, Langan, and IMEG head the rankings of the nation's largest engineering firms for nonresidential buildings and multifamily buildings work, as reported in Building Design+Construction's 2023 Giants 400 Report.
Building Team | Aug 28, 2023
Navigating challenges in construction administration
Vessel Architecture's Rebekah Schranck, AIA, shares how the demanding task of construction administration can be challenging, but crucial.
Laboratories | Aug 24, 2023
Net-zero carbon science center breaks ground in Canada
Designed by Diamond Schmitt, the new Atlantic Science Enterprise Centre (ASEC) will provide federal scientists and partners with state-of-the-art space and equipment to collaborate on research opportunities.
Multifamily Housing | Aug 23, 2023
Constructing multifamily housing buildings to Passive House standards can be done at cost parity
All-electric multi-family Passive House projects can be built at the same cost or close to the same cost as conventionally designed buildings, according to a report by the Passive House Network. The report included a survey of 45 multi-family Passive House buildings in New York and Massachusetts in recent years.
