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

Sponsored By

Software Reviews
Continuing Series
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







Spatial Media LLC properties




  The American Surveyor     

Private NonResidential Construction Hits All-Time High in May Print E-mail
Written by Associated Builders and Contractors   
Tuesday, 01 July 2008

Private nonresidential construction spending hit an all-time high in May, according to the July 1 construction spending report by the U.S. Department of Commerce. On a monthly, seasonally- adjusted basis, private nonresidential construction spending topped off at a record $405.3 billion, a 0.2 percent increase from the previous month. However, total construction spending declined by 0.4 percent in May compared to April driven by falling residential construction spending. In contrast, overall nonresidential construction spending has continued to rise slightly with an increase of 0.3 percent in May from the previous month, and an increase of 11.6 percent since May 2007. Total nonresidential construction, both public and private, has continued setting record highs reaching $699 billion in May, up $2 billion from the previous month.

Of the 16 reported nonresidential sectors, 12 produced year-over-year gains, with the largest growth in lodging (35.7 percent), followed by manufacturing (34.2 percent), power (27.1 percent) and public safety (23.9 percent). Four nonresidential segments experienced reduced construction spending activity over the past 12 months. These were religious construction (down 9.5 percent), water supply construction (down 4.0 percent), conservation development (down 3.8 percent) and communication (down 0.8 percent). On a monthly basis, 8 of 16 nonresidential subsectors reported increased spending.

Total construction spending, both nonresidential and residential, was $1.085 trillion in May on a seasonally-adjusted, annualized basis. This represents a 5.1 percent decrease since the beginning of 2008 and a 6 percent drop since May 2007.

What's New
According to Associated Builders and Contractors, the nonresidential construction spending data remains inconsistent with the country's broader economic weakness. The slumping U.S. economy has yet to become apparent in nonresidential construction spending. In fact, several of the forces that have produced a weaker U.S. economy are actually stimulating nonresidential construction, including the power and manufacturing sectors. Driven by high and continually rising energy prices, together with a lack of investment in prior decades, there are now a growing number of opportunities for industrial contractors.

Similarly, a weaker U.S. dollar, which has hampered consumer spending and has exasperated inflationary expectations, has produced a new demand for the construction of manufacturing facilities among goods producers in America's domestic market. In addition, several massive power generating facility projects are now underway in various parts of the U.S., and as a result, the nonresidential construction spending level may remain steady. However, certain cyclical nonresidential segments remain vulnerable in the near term, including lodging, office and retail construction. 

< Prev   Next >


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


Javad Intros
Total Solution

press [at] amerisurv.com
Online Internet Content


News Feeds

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

Need Help? See this RSS Tutorial

Historic Maps

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 



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