Construction + Economy

September Was 16th Consecutive Month Of Non-Residential Construction Growth

September Was 16th Consecutive Month Of Non-Residential Construction Growth

 

According to US Census Bureau data, September national nonresidential construction spending grew 0.3% marketing the 16th consecutive month of growth. The growth is primarily attributed to publicly financed construction.

Some private categories, including power, commercial, amusement, and recreation saw month-over-month increases, however, publicly financed construction accounted for more than 72% of September’s rise. Federal infrastructure spending and high financing costs for private construction are expected to continue the publicly financed construction trend.

Commercial construction, including warehouse and retail projects, increased 0.7% in September; investment in power, oil, and gas projects climbed 0.9%; and spending on education projects increased 1.8%. However, manufacturing-related spending dipped 0.4%, and highway & street spending also declined by 0.1%.

Despite the September decline in manufacturing construction, spending in the category is up 62% over the past year and accounts for nearly 43% of the year-over-year increase in nonresidential construction.

More information is available here

 

Top image: Pexels.com

 

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David Shiller
David Shiller is the Publisher of LightNOW, and President of Lighting Solution Development, a North American consulting firm providing business development services to advanced lighting manufacturers. The ALA awarded David the Pillar of the Industry Award. David has co-chaired ALA’s Engineering Committee since 2010. David established MaxLite’s OEM component sales into a multi-million dollar division. He invented GU24 lamps while leading ENERGY STAR lighting programs for the US EPA. David has been published in leading lighting publications, including LD+A, enLIGHTenment Magazine, LEDs Magazine, and more.

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