Product Search Engine

ABC Analyzes Latest Construction Report Year-Over-Year Spending Surging in Office and Lodging Certain nonresidential building segments are "red hot," including office and lodging, both of which are up more than 20 percent in spending growth over the past 12 months, according to the chief economist of the Associated Builders and Contractors. On a year-over-year basis, office has climbed 24.8 percent, while lodging has gone up 20.9 percent. Education has advanced 13.0 percent; commercial is up 6.8 percent; and amusement and recreation has expanded by 5.9 percent. Nonresidential construction spending dropped seasonally in October, but has increased on a year-over-year basis, the ABC found after analyzing the U.S. Census Bureau's latest construction report. The largest monthly losses: communication, -12.3%; sewage and waste disposal, -12.2%; public safety, -12.0%; water supply, -10.8%; and transportation, -8.9%. Total spending for the month was $699.7 billion on a seasonally adjusted annual basis, a 0.3 percent decrease from September, but an increase of 2.6 percent compared to October 2015. On another positive note, the 2017-18 nonresidential spending outlook has improved over the last several weeks, Basu said, in large part because of President-elect Donald Trump's long-term infrastructure investment proposed policies. Tweet Comment Form is loading comments...

Related Stories

30080  Construction Spending Makes Gains
30049  Highway Parks Becoming Popular in Downtown Areas
29906  Construction Spending Up 3.8% in 2017
29899  PCA's Chief Economist Is Optimistic About Construction Industry
29850  Economic Highlights
29844  Ground Gains
29835  CASE "Kickstart" Contest for Landscape Businesses
29799  New Home Sales Turn Back the Clock
29706  Most Construction Economic Numbers Show Growth
29674  Construction Spending Posts Small Gain