Nonresidential building construction drops 0.4% in August

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nonresidential building construction drops 0.4% in august

October 06, 2009 - Jim Haughey

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Jobsite spending on nonresidential building construction fell 0.4% in August. This was the third consecutive significant decline. The decline is not balanced. Spending for commercial buildings fell 9.8% in the last three months. Most of the deep decline in this market is now over. Spending for institutional buildings dropped 2.0% in the last three months. Most of the shallow decline in this market is still ahead. Manufacturing spending peaked three months ago and has now fallen 6.6%. Most of the very steep decline in this market is still ahead. It will consist of sharp cuts in energy-related project. Starts for these projects are already much lower. Traditional “4 walls and a roof” factory construction will also slip slower with the factory capacity utilization rate at a very depressed level under 70, although it is now rising again.

U.S. Nonresidential Construction (billions of U.S. current dollars)
	Monthly Figures* (latest actual values)		Annual Figures
	Monthly Figures* (latest actual values)		Actual		Forecast
	Jun-09	Jul-09	2007	2008	2009	2010	2011
Lodging (% change is period versus same period, previous year)	27.479	25.008	28.676	35.819	26.599	22.875	24.875
	-27.8%	-32.9%	59.5%	24.9%	-25.7%	-14.0%	8.7%
Office	57.164	56.905	65.195	70.078	57.917	55.425	60.125
	-19.1%	-20.3%	20.4%	7.5%	-17.4%	-4.3%	8.5%
Commercial (mainly retail)	57.922	56.076	89.233	85.097	60.608	57.700	66.075
	-34.1%	-35.1%	16.4%	-4.6%	-28.8%	-4.8%	14.5%
Health Care	50.318	49.451	43.725	47.581	48.175	49.100	53.900
	5.4%	1.3%	13.6%	8.8%	1.2%	1.9%	9.8%
Education	108.056	105.561	96.523	103.785	106.025	105.050	111.713
	2.4%	-0.5%	13.4%	7.5%	2.2%	-0.9%	6.3%
Religious	6.442	6.537	7.541	7.130	6.612	6.015	6.182
	-5.7%	-7.1%	-2.6%	-5.5%	-7.3%	-9.0%	2.8%
Public Safety	15.312	14.649	10.172	12.931	14.181	12.975	14.000
	23.6%	14.9%	30.4%	27.1%	9.7%	-8.5%	7.9%
Amusement/Recreation	20.316	20.192	21.172	21.486	19.830	20.775	22.738
	-6.0%	-5.9%	11.5%	1.5%	-7.7%	4.8%	9.4%
Manufacturing	79.220	76.416	45.496	61.113	79.752	68.750	64.175
	34.5%	32.3%	29.6%	34.3%	30.5%	-13.8%	-6.7%
Total	421.712	410.296	407.733	445.018	419.655	398.665	423.783
	-6.2%	-8.6%	19.2%	9.1%	-5.7%	-5.0%	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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