Nonresidential construction spending rose 0.1% in June and the 0.5% initially reported May decline is now a 0.2% gain. For lease project spending increased 1.2%, mostly for retail while institutional project spending dropped 1.4%. For lease project spending has increased 4.8% since January. Spending on manufacturing projects rose 4.1%, the fifth consecutive monthly gain. Declining institutional and rising commercial spending will continue well into next year. Stimulus funding has ended and tax financed public construction will weaken through the 2013 fiscal year.
Nonresidential building construction spending declined 23.4% in 2010 and has increased 0.9% through June. Only a marginal increase is forecast for this summer resulting in a 7.9% decline for 2011 vs. 2010. Accelerating recovery will push the 2012 gain to 8.9% with a further 13.3% rise projected for 2013.
U.S. Nonresidential Construction | |||||||
| Monthly Figures* (latest actual values) |
Annual Figures | ||||||
| Actual | Forecast | ||||||
| May-11 | Jun-11 | 2009 | 2010 | 2011 | 2012 | 2013 | |
| Lodging (% change is period versus same period, previous year) |
8.273 | 8.419 | 25.458 | 11.467 | 8.413 | 9.113 | 10.3175 |
| -28.7% | -26.1% | -28.9% | -55.0% | -26.6% | 8.3% | 13.2% | |
| Office | 32.908 | 32.930 | 52.868 | 37.514 | 34.340 | 40.388 | 46.375 |
| -12.0% | -11.1% | -22.7% | -29.0% | -8.5% | 17.6% | 14.8% | |
| Commercial (mainly retail) | 42.673 | 43.476 | 55.421 | 40.935 | 42.030 | 46.213 | 53.000 |
| 1.5% | 5.5% | -35.9% | -26.1% | 2.7% | 10.0% | 14.7% | |
| Health Care | 38.944 | 39.879 | 45.151 | 40.081 | 39.631 | 42.975 | 48.55 |
| -1.5% | 0.4% | -3.6% | -11.2% | -1.1% | 8.4% | 13.0% | |
| Education | 82.255 | 79.672 | 102.874 | 87.839 | 81.244 | 83.625 | 91.000 |
| -6.7% | -9.1% | -1.7% | -14.6% | -7.5% | 2.9% | 8.8% | |
| Religious | 4.196 | 3.963 | 6.227 | 5.322 | 4.212 | 4.299 | 4.673 |
| -23.4% | -27.8% | -13.9% | -14.5% | -20.9% | 2.1% | 8.7% | |
| Public Safety | 10.085 | 10.277 | 14.129 | 11.885 | 10.143 | 11.083 | 12.2875 |
| -18.3% | -16.8% | 8.0% | -15.9% | -14.7% | 9.3% | 10.9% | |
| Amusement/Recreation | 14.988 | 14.522 | 18.885 | 16.940 | 15.343 | 17.225 | 20.200 |
| -7.3% | -15.4% | -13.%6 | -10.3% | -9.4% | 12.3% | 17.3% | |
| Manufacturing | 33.291 | 34.651 | 58.702 | 38.949 | 32.728 | 37 | 44.250 |
| -18.4% | -11.9% | 10.6% | -33.6% | -16.0% | 13.1% | 19.6% | |
| Total | 267.613 | 267.789 | 379.715 | 290.931 | 268.084 | 291.919 | 330.653 |
| -8.8% | -8.1% | -13.2% | -23.4% | -7.9% | 8.9% | 13.3% | |
*Monthly figures are seasonally adjusted at annual rates (SAAR figures). | |||||||
