flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Public nonresidential construction spending rebounds; overall spending unchanged in February

Market Data

Public nonresidential construction spending rebounds; overall spending unchanged in February

The segment totaled $701.9 billion on a seasonally adjusted annualized rate for the month, marking the seventh consecutive month in which nonresidential spending sat above the $700 billion threshold.


By ABC | April 3, 2017

Nonresidential construction spending remained unchanged in February, according to analysis of U.S. Census Bureau data released today by Associated Builders and Contractors (ABC). The segment totaled $701.9 billion on a seasonally adjusted annualized rate for the month, marking the seventh consecutive month in which nonresidential spending sat above the $700 billion threshold.

Private nonresidential construction spending faltered in February, with six of the 11 subsectors experiencing a month-over-month spending decrease. The communication category experienced a particularly precipitous decline, falling 8.1 percent for the month. Public nonresidential spending increased for the first time since October of 2016.

“Today’s construction spending report essentially left the status quo unchanged,” says ABC Chief Economist Anirban Basu in a release. “Recent ABC construction confidence surveys indicate roughly flat spending expected over the next six months. Today’s report was consistent with those expectations.

“Many construction firm leaders expect that ultimately, nonresidential construction spending will begin to climb as the new administration in Washington begins to implement its pro-business agenda,” says Basu. “That said, there is an awareness that the impact of proposed pro-business policies will not be immediate and may actually not be felt in earnest until 2018 or even 2019.

“Even in the absence of policy impacts, there has been a general improvement in overall business confidence in America,” said Basu. “This should translate into better construction spending performance over the months ahead, particularly in privately financed categories.”

 

 

Related Stories

MFPRO+ Research | Oct 15, 2024

Multifamily rents drop in September 2024

The average multifamily rent fell by $3 in September to $1,750, while year-over-year growth was unchanged at 0.9 percent.

Contractors | Oct 1, 2024

Nonresidential construction spending rises slightly in August 2024

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.

The Changing Built Environment | Sep 23, 2024

Half-century real estate data shows top cities for multifamily housing, self-storage, and more

Research platform StorageCafe has conducted an analysis of U.S. real estate activity from 1980 to 2023, focusing on six major sectors: single-family, multifamily, industrial, office, retail, and self-storage.

Student Housing | Sep 17, 2024

Student housing market stays strong in summer 2024

As the summer season winds down, student housing performance remains strong. Preleasing for Yardi 200 schools rose to 89.2% in July 2024, falling just slightly behind the same period last year.

MFPRO+ Research | Sep 11, 2024

Multifamily rents fall for first time in 6 months

Ending its six-month streak of growth, the average advertised multifamily rent fell by $1 in August 2024 to $1,741.

Contractors | Sep 10, 2024

The average U.S. contractor has 8.2 months worth of construction work in the pipeline, as of August 2024

Associated Builders and Contractors reported today that its Construction Backlog Indicator fell to 8.2 months in August, according to an ABC member survey conducted Aug. 20 to Sept. 5. The reading is down 1.0 months from August 2023.

Construction Costs | Sep 2, 2024

Construction material decreases level out, but some increases are expected to continue for the balance Q3 2024

The Q3 2024 Quarterly Construction Insights Report from Gordian examines the numerous variables that influence material pricing, including geography, global events and commodity volatility. Gordian and subject matter experts examine fluctuations in costs, their likely causes, and offer predictions about where pricing is likely to go from here. Here is a sampling of the report’s contents.

Contractors | Aug 21, 2024

The average U.S. contractor has 8.4 months worth of construction work in the pipeline, as of July 2024

Associated Builders and Contractors reported today that its Construction Backlog Indicator held steady at 8.4 months in July, according to an ABC member survey conducted July 22 to Aug. 6. The reading is down 0.9 months from July 2023.

MFPRO+ Research | Aug 9, 2024

Apartment completions to surpass 500,000 for first time ever

While the U.S. continues to maintain a steady pace of delivering new apartments, this year will be one for the record books.

Contractors | Aug 1, 2024

Nonresidential construction spending decreased 0.2% in June

National nonresidential construction spending declined 0.2% in June, 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. Nonresidential construction has expanded 5.3% from a year ago.

boombox1
boombox2
native1

More In Category




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021