Tag: construction spending

July 2, 2024

As has been the case for the last 24 months, public dollars flowing from the $1.2 trillion Infrastructructure Investment and Jobs Act, as well as follow-on legislation such as the $52 billion CHIPS and Science Act, are propping up the […]

June 4, 2024

“An unprecedented increase in manufacturing construction spending has pushed overall nonresidential activity 31.9% higher over the past two years,” said Basu. “Ongoing investment in industrial facilities as well as significant infrastructure-related outlays will keep nonresidential spending elevated despite the current […]

May 1, 2024

In contrast, private sector nonresidential spending was uneven, said Ken Simonson, chief economist for the Associated General Contractors of America. Overall, private nonresidential spending dropped 0.2%. “Private nonresidential categories showed varied patterns, while multifamily construction continued to slip from record […]

February 2, 2024

After a revision flipped November’s 0.1% drop back to positive, December’s jump now marks the 19th consecutive month of growth, largely due to infrastructure and manufacturing activity, Basu said, noting big gains for spending overall last year. “Nonresidential construction spending […]

January 4, 2024

When factoring in the residential sector, total construction spending increased 0.4% in November to a seasonally adjusted annualized basis of $2.05 trillion, according to the Associated General Contractors of America. “Private construction spending is showing renewed vigor in homebuilding and […]

December 1, 2023

Mixed activity levels within categories suggest the construction market is shifting, but still remains strong overall, according to a separate analysis of spending trends from the Associated General Contractors of America. Spending on manufacturing plants, the largest nonresidential segment, jumped […]

November 2, 2023

The largest nonresidential segments showed mixed results from August to September, according to the Associated General Contractors of America construction spending report. Commercial construction, which includes warehouse and retail projects, increased 0.7% in September, noted the AGC report. Meanwhile, investment […]

October 19, 2023

Nonresidential construction continues to lead construction spending in New York City, said Esposito. The federal government’s investment in infrastructure, along with resilient sectors such as healthcare, life sciences, manufacturing, data centers and transportation, will continue to create opportunities, he said. […]

October 2, 2023

Spending levels remained mostly positive among large nonresidential segments, according to the Associated General Contractors of America construction spending report. Manufacturing-related spending continues to lead the way, posting a 1.2% uptick in August, according to the report. Spending on power, […]

September 5, 2023

Construction spending levels in July suggest “no letup in demand for construction workers or private-sector projects,” said Associated General Contractors of America Chief Economist Ken Simonson in the group’s own spending report. Still, Simonson continues to caution that progress on […]

August 28, 2023

The Construction Market Forecasting Service (CMFS) 2023 second quarter edition predicted that starts would rise 2% in 2023. That level of growth is minuscule compared with 2022, when total construction starts rose 15% from the previous year. One risk the […]

August 2, 2023

Despite that positive outlook for public infrastructure jobs, others still see hurdles in that area. For example, a report from the Associated General Contractors of America warned some of the regulatory requirements associated with federal construction funding, such as incomplete […]

July 5, 2023

Spending in the manufacturing sector ticked up 1% in May, and remains up more than 76% year over year. Meanwhile, office construction, which includes the booming data center sector, inched up close to 1% in May and remains up 6.7% […]

March 2, 2023

Spending in the nonresidential sector continues to outpace inflation on a year-over-year basis, said Basu. That’s because of massive spending in the manufacturing sector. Manufacturing construction spending jumped 5.9% in January, reaching $139.78 billion. Meanwhile, transportation spending increased 1.7% in […]

November 8, 2022

Demand for data center construction bolstered the commercial component of the momentum index over the past several months, according to Dodge. This time around, the commercial component increased 13% in October largely due to a jump in office and hotel […]

October 25, 2022

Nonresidential growth in New York City over the next three years will be driven by large investments in healthcare facilities and new offices, according to the report. Office valuations in New York City are forecasted to decline by as much […]

October 11, 2022

Backlog in heavy industrial increased sizably in September, spurred by a 21.5% year-over-year increase in manufacturing-related construction spending. The booking of new projects, plus an even more optimistic outlook on profits and hiring, defies predictions of a recession taking the […]

October 4, 2022

Nonresidential spending totaled $859.3 billion in August on a seasonally adjusted annualized basis, as private nonresidential spending ticked down 0.1%, while public nonresidential construction spending decreased 0.8%. Residential spending fell 1% over the last month, while total construction spending dipped […]

August 29, 2022

Healthcare construction remains strong despite surging costs, with spending in the sector near all-time highs, according to a recent Federal Reserve Bank of St. Louis healthcare construction report. Examples abound: St. Louis Veterans Administration Health is planning a $1 billion […]

August 12, 2022

Even in times of pandemic and uncertainty, construction continues to be big business. In 2021, new constructions in the US were valued at almost $1.6 trillion, and data shows it’s forecast to reach over $2 trillion in 2025. Construction spending […]