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ABC Analyzes Latest Construction Report

Year-Over-Year Spending Surging in Office and Lodging


Certain nonresidential construction segments are experiencing tremendous growth of 20 percent or more on a year-over-year basis, the Associated Builders
and Contractors said.

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.

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October 20, 2019, 6:08 pm PDT

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