National nonresidential construction spending increased 0.1% in August, 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 $1.22 trillion.
Spending was up on a monthly basis in 10 of the 16 nonresidential subcategories. Private nonresidential spending decreased 0.1%, while public nonresidential construction spending was up 0.3% in August.
“Nonresidential construction spending inched higher in August, and that’s almost entirely due to ongoing infrastructure investments,” said ABC Chief Economist Anirban Basu. “Public spending accounted for all of the nonresidential segment’s monthly increase and has risen nearly 8% over the past year, significantly outpacing privately financed nonresidential construction activity. As a result of ongoing weakness in certain private subsegments, ABC’s Construction Backlog Indicator has fallen by a full month over the past year. While falling interest rates will eventually serve as a tailwind for the industry, it may be several quarters before privately financed segments see any substantial relief.”
Related Stories
Contractors | Oct 29, 2021
A grim Market Outlook foresees more shortages that impede construction
Consigli’s new report, though, does offer glimmers of relief on the supply-chain front, and strategies for risk management.
Sustainability | Oct 28, 2021
Reducing embodied carbon in construction, with sustainability leader Sarah King
Sustainability leader Sarah King explains how developers and contractors can use the new EC3 software tool to reduce embodied carbon in their buildings.
Cladding and Facade Systems | Oct 26, 2021
14 projects recognized by DOE for high-performance building envelope design
The inaugural class of DOE’s Better Buildings Building Envelope Campaign includes a medical office building that uses hybrid vacuum-insulated glass and a net-zero concrete-and-timber community center.
Giants 400 | Oct 22, 2021
2021 Retail Giants: Top architecture, engineering, and construction firms in the U.S. retail building sector
Gensler, CallisonRTKL, Kimley-Horn, and Whiting-Turner top BD+C's rankings of the nation's largest retail sector architecture, engineering, and construction firms, as reported in the 2021 Giants 400 Report.
Giants 400 | Oct 22, 2021
2021 Industrial Sector Giants: Top architecture, engineering, and construction firms in the U.S. industrial buildings sector
Ware Malcomb, Clayco, Jacobs, and Stantec top BD+C's rankings of the nation's largest industrial buildings sector architecture, engineering, and construction firms, as reported in the 2021 Giants 400 Report.
Giants 400 | Oct 22, 2021
2021 Airport Sector Giants: Top architecture, engineering, and construction firms in the U.S. airport facilities sector
AECOM, Hensel Phelps, PGAL, and Gensler top BD+C's rankings of the nation's largest airport sector architecture, engineering, and construction firms, as reported in the 2021 Giants 400 Report.
Giants 400 | Oct 22, 2021
2021 Sports Facilities Giants: Top architecture, engineering, and construction firms in the U.S. sports and recreation facility sector
AECOM, Populous, Kimley-Horn, and HOK top BD+C's rankings of the nation's largest sports and recreation facility sector architecture, engineering, and construction firms, as reported in the 2021 Giants 400 Report.
Multifamily Housing | Oct 21, 2021
Chicago’s historic Lathrop public housing complex gets new life as mixed-income community
A revitalized New Deal–era public housing community in Chicago brings the Garden City movement of yesteryear into the 21st century.
Sponsored | BD+C University Course | Oct 15, 2021
7 game-changing trends in structural engineering
Here are seven key areas where innovation in structural engineering is driving evolution.
| Oct 14, 2021
Inside the KCI Airport Terminal Workforce Enhancement Program
The construction and development team for Kansas City International airport's new terminal discuss their Strategic Partnership Program to encourage participation by local minority- and women-owned enterprises, and their Work Training Program to train and hire local KC residents for trade jobs on the KCI Terminal project.
