About Amerisurv| Contact    
Magazine | Newsletter    
Flickr Photos | Advertise    
HomeNewsNewsletterAmerisurv DirectoryJobsStoreAuthorsHistoryArchivesBlogVideosEvents
Register to receive the Amerisurv Newsletter | Also See Our LiDAR News Newsletter | RSS Feed  
advertisement


Subscriptions
Sponsored By

Software Reviews
Continuing Series
     RTN
An RTN expert provides everything you need to know about network-corrected real-time GNSS observations.
Click Here to begin the series,
or view the Article PDF's Here
76-PageFlip Compilation
of the entire series
Test Yourself

Got Answers?
Test your knowledge with NCEES-level questions.
  Start HERE
Meet the Authors
Check out our fine lineup of writers. Each an expert in his or her field.
Wow Factor
Sponsored By


Product Reviews
Partner Sites

machinecontrolonline 


lbszone.com

GISuser.com

GeoJobs.biz

GeoLearn

 

Spatial Media LLC properties

Associates

ASPRS

newsnow 

  The American Surveyor     

Nonresidential Construction Spending Slide Continues, Down 0.7 in April Print E-mail
Written by Associated Builders and Contractors   
Friday, 01 June 2012

"The forward looking indicators are no longer positive implying that nonresidential construction momentum will continue to languish." —ABC Chief Economist Anirban Basu.

Nonresidential construction spending continues to slide, falling 0.7 percent in April, according to the June 1 report by the U.S. Census Bureau. Spending in April stood at $558.33 billion on a seasonally adjusted annualized basis, but is up 7.1 percent from April 2011.

Private nonresidential construction spending fell 0.2 percent in April, but is up 17.4 percent compared to one year ago. Public nonresidential construction is down 1.2 percent for the month, and is down 2.3 percent from the same time last year.

Among the sixteen subsectors in the nonresidential construction industry, ten of them reported declines in construction spending. The largest drop came from lodging, down 5.3 percent. This was followed by manufacturing, down 5.1 percent; conservation and development, down 4.9 percent; religious, down 4.5 percent; public safety, down 4.3 percent; sewage and waste disposal, down 3.5 percent; amusement and recreation, down 2.7 percent; power, down 1.3 percent; communication, down 1.1 percent; and education, down 0.7 percent.

On the other hand, six construction subsectors posted increases in April, including health care, up 2.6 percent; transportation, up 2.1 percent; water supply, up 2 percent; commercial construction, up 1 percent; office, up 0.5 percent; and highway and street, up 0.4 percent.

In contrast, residential construction spending rose 2.6 percent in April and is up 6.2 percent compared to the same time last year.

Overall, total construction spending – which includes both nonresidential and residential – is up 0.3 percent for April and up 6.8 percent from one year ago.

Analysis
“For the fourth straight month, construction spending continues to slide,” said Associated Builders and Contractors Chief Economist Anirban Basu. “This current trend is largely a reflection of the way the economy had been when decisions to move forward with projects were made.

“With the U.S. economy decelerating for a third consecutive spring/summer, the forward looking indicators are no longer positive, implying that nonresidential construction momentum will continue to languish,” Basu said.

“Ten of the nation’s sixteen nonresidential construction segments experienced declines in April, including manufacturing and power, which had been leading drivers of spending growth,” said Basu. “The slowdown of spending in these construction sectors is likely attributable to a number of factors, including a weakening global economy and corresponding softness in industrial production, as well as a sense of caution among the owner/developer community with respect to large and expensive projects.

“Due largely to demographic factors, healthcare construction is likely to remain a substantial source of work for contractors going forward,” Basu said. “But there are relatively few other segments offering as much promise.

“Looking ahead, much will depend upon how, when and if the European sovereign debt crisis is resolved, and whether the U.S. Congress will take up issues such as the expiring tax cuts, debt ceiling and payroll tax cut on a timely basis,” said Basu. “In the meantime, uncertainty regarding the global economic outlook is growing and financial capital is becoming increasingly cautious. Little of this improves the near-term outlook for the nation’s nonresidential contractors."

 
< Prev   Next >

deliciousrssnewsletterlinkedinfacebooktwitter

Amerisurv Exclusive Online-only Article ticker
Featured Amerisurv Events
List Your Event Here
please
contact Amerisurv


Google
 
AMERISURV TOP NEWS

Trimble Intros
TSC7 Controller

GOT NEWS? Send To
press [at] amerisurv.com
Online Internet Content

Sponsor


News Feeds

 
Subscribe to Amerisurv news & updates via RSS or get our Feedburn
xml feed

Need Help? See this RSS Tutorial

Historic Maps
Careers

post a job
Reach our audience of Professional land surveyors and Geo-Technology professionals with your GeoJobs career ad. Feel free to contact us if you need additional information.

 

Social Bookmarks

Amerisurv on Facebook 

Amerisurv LinkedIn Group 

Amerisurv Flickr Photos 

Amerisurv videos on YouTube 

twitter

 




The American Surveyor © All rights reserved / Privacy Statement
Spatial Media LLC
7820B Wormans Mill Road, #236
Frederick MD 21701
301-620-0784
301-695-1538 - fax