Analyzing construction spending levels from the first half of 2017, Associated General Contractors of America officials find significant declines in public-sector investment at a time when much of the nation’s infrastructure is deteriorating due to age or overuse.
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Contractors track broad drop in public construction spending
Source: Associated General Contractors of America, Washington, D.C.
Analyzing construction spending levels from the first half of 2017, AGC officials find significant declines in public-sector investment at a time when much of the nation’s infrastructure is deteriorating due to age or overuse.
Read MoreConstruction spending increase outpaces cement shipment gains
Sources: U.S. Census Bureau; CP staff
The U.S. Census Bureau calculates the value of 2016 construction at $1.16 trillion, about 4.5 percent above the prior year’s $1.11 trillion total. The growth rate in spending eclipsed another principal metric: cement consumption, which Portland Cement Association pegged at 2.7 percent higher last year than in 2015. The variance reflects flat or lagging infrastructure project activity, where cement and concrete represent a higher slice of each dollar when compared to buildings.
Read MoreLeading construction economist assesses slowing private, nonresidential work
Sources: Associated Builders & Contractors, Washington, D.C.; CP staff
Nonresidential construction fell for a second consecutive month. An ABC analysis of U.S. Census Bureau data shows seasonally adjusted, annualized spending of $687 billion in August, 1.1 percent and 1.3 percent lower than prior month and August 2015 levels, respectively. Four of the five largest nonresidential subsectors—power, highway and street, commercial and manufacturing—combined to fall 2.2 percent on a monthly basis in August 2016.
Read MoreAGC: Mid-year construction figures fare well against January-June 2015
Sources: Associated General Contractors of America, Washington, D.C.; CP staff
Construction spending decreased in June for the third month in a row, but most segments posted solid increases in the first half of 2016 compared to the same period in 2015, according to an AGC analysis.
Read MoreLate-2014 figures track positively trending construction market
Sources: Associated General Contractors of America, Washington, D.C.; CP staff
Analyzing new federal government data on construction spending through November, AGC confirms that overall 2014 project activity was set to modestly outpace 2013 totals. Figures released January 2 coincide with association members’ push for action on a series of federal infrastructure programs, including funding for highway and transit upgrades, plus clean water initiatives.
Read MoreLate-2014 figures track positively trending construction market
Sources: Associated General Contractors of America, Washington, D.C.; CP staff
Analyzing new federal government data on construction spending through November, AGC confirms that overall 2014 project activity was set to modestly outpace 2013 totals. Figures released January 2 coincide with association members’ push for action on a series of federal infrastructure programs, including funding for highway and transit upgrades, plus clean water initiatives.
Read MoreResidential market upturn fuels near-double digit gains for fiber cement
Demand in the U.S. for fiber cement products is forecast to rise 8.5 percent annually through 2017 to 2.9 billion square feet—valued at $2.2 billion—according to a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm. “Advances will be driven by a rebound in residential building construction spending, particularly in the new housing segment,” states Matt Zielenski, an analyst with The Freedonia Group. Growth will be further spurred by increasing use of fiber cement products because of their favorable aesthetic and performance properties. These and other trends are presented in Fiber Cement.
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