Nonresidential building construction spending up in June

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nonresidential building construction spending up in june

September 09, 2009 - Jim Haughey

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Jobsite spending on nonresidential building construction fell 1.1% in July after being stuck at the December level through June. Current spending is about 4% below the peak level last October. However, the value of starts has plunged sharply since peaking last August so the amount of work underway will continue to shrink. A 7% decline is expected from July to February or March. The decline to yearend will be 5% for commercial buildings which have experienced the largest decline so far, 5% for institutional buildings which have had very marginal decline so far and 25% for manufacturing facilities which expanded through May. Manufacturing construction spending will continue declining into the middle of next year largely due to cutbacks in the construction of energy related facilities.

U.S. Nonresidential Construction
(billions of U.S. current dollars)

	Monthly Figures* (latest actual values)		Annual Figures
	Monthly Figures* (latest actual values)		Actual		Forecast
	May-09	Jun-09	2007	2008	2009	2010	2011
Lodging (% change is period versus same period, previous year)	28.398	26.250	28.676	35.819	26.196	22.875	24.875
	-24.8%	-31.0%	59.5%	24.9%	-26.9%	-12.7%	8.7%
Office	58.694	59.145	65.195	70.078	59.083	56.675	62.163
	-15.8%	-16.3%	20.4%	7.5%	-15.7%	-4.1%	9.7%
Commercial (mainly retail)	62.743	59.460	89.233	85.097	61.386	59.425	66.750
	-29.4%	-32.3%	16.4%	-4.6%	-27.9%	-3.2%	12.3%
Health Care	48.739	50.104	43.725	47.581	48.207	49.100	53.900
	3.3%	5.0%	13.6%	8.8%	1.3%	1.9%	9.8%
Education	107.757	109.436	96.523	103.785	106.728	105.050	111.963
	2.2%	3.7%	13.4%	7.5%	2.8%	-1.6%	6.6%
Religious	6.105	6.415	7.541	7.130	6.482	5.900	6.182
	-13.3%	-6.1%	-2.6%	-5.5%	-9.1%	-9.0%	4.8%
Public Safety	14.870	14.819	10.172	12.931	14.240	12.938	14.000
	17.2%	19.6%	30.4%	27.1%	10.1%	-9.1%	8.2%
Amusement/Recreation	19.546	20.316	21.172	21.486	19.830	20.775	22.738
	-14.2%	-6.0%	11.5%	1.5%	-7.7%	4.8%	9.4%
Manufacturing	85.991	83.811	45.496	61.113	80.885	68.750	64.175
	49.1%	42.3%	29.6%	34.3%	32.4%	-15.0%	-6.7%
Total	432.843	429.756	407.733	445.018	423.036	401.488	426.745
	-3.7%	-4.4%	19.2%	9.1%	-4.9%	-5.1%	6.3%

* Monthly figures are seasonally adjusted at annual rates (SAAR figures).
Actuals: U.S. Census Bureau (Department of Commerce) (put-in-place investment figures).
Forecasts and table: Reed Construction Data.

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