National nonresidential construction spending was up by 0.5% 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 $883.9 billion for the month.
Spending was down on a monthly basis in 11 of the 16 nonresidential subcategories. Private nonresidential spending was up 1.0%, while public nonresidential construction spending was down 0.3% in September.
“The disconnect between contractor confidence, which remains elevated according to ABC’s Construction Confidence Index, and nonresidential construction spending continues,” said ABC Chief Economist Anirban Basu. “While nonresidential construction spending is below February 2020 levels, many contractors report operating at capacity. This has much to do with worker and equipment shortages.
“Many projects under construction in America began prior to the rapid increase in borrowing costs that started earlier this year,” said Basu. “With interest rates on the rise and the economy expected to slow, nonresidential spending will likely decline further, at least in segments vulnerable to economic downturns. Contractors that focus on public construction work stand to be in far better shape given recent federal legislation and excess pandemic relief funds waiting to be spent by many state and local governments.”
Related Stories
| Apr 13, 2012
Goettsch Partners designs new music building for Northwestern
The showcase facility is the recital hall, an intimate, two-level space with undulating walls of wood that provide optimal acoustics and lead to the stage, as well as a 50-foot-high wall of cable-supported, double-skin glass
| Apr 6, 2012
Flat tower green building concept the un-skycraper
A team of French designers unveil the “Flat Tower” design, a second place winner in the 2011 eVolo skyscraper competition.
| Apr 3, 2012
Product Solutions
Two new PV systems; a lighter shelf; and fire alarm/emergency communication system.
| Apr 3, 2012
Luxury hotel 'groundscraper' planned in abandoned quarry
Would you spend $300 a night to sleep underground? You might, once you see the designs for China's latest hotel project.
| Apr 3, 2012
SSOE acquires MEP Firm CRS Engineering & Design Consultants
The acquisition will expand SSOE’s Southeastern U.S. presence, broaden CRS’s reach to international markets, and provide both firms’ clients access to enhanced services and resources.
| Mar 30, 2012
18 handy tablet apps for AEC professionals
Check out these helpful apps for everyday design and construction tasks. Our favorite: MagicPlan, which uses GPS to help you measure and draw a floor plan of any room.
| Mar 22, 2012
Hawaiian architecture firm chooses FRP trellis system over traditional materials
MGA Architecture plans to add five more trellis systems on the neighboring building.
| Mar 13, 2012
Worker office space to drop below 100-sf in five years
The average for all companies for square feet per worker in 2017 will be 151 sf, compared to 176 sf, and 225 sf in 2010.
| Feb 15, 2012
Englewood Construction announces new projects with Destination Maternity, American Girl
Englewood’s newest project for Wisconsin-based doll retailer American Girl, the company will combine four vacant storefronts into one large 15,000 square-foot retail space for American Girl.
| Feb 2, 2012
Call for Entries: 2012 Building Team Awards. Deadline March 2, 2012
Winning projects will be featured in the May issue of BD+C.
