Groundbreak Carolinas

GroundBreak Carolinas

Your source for construction industry news in the Carolinas

Seamon Whiteside

Construction Spending

February Rise in Construction Outlays Contrasts with Pandemic-driven Collapse in March as Owners, Government Orders Shut Down Projects

by AGC on

Survey Finds Contractors Face Shortages of Materials and Workers, Delivery Delays and Cancellations;  Association Officials Urge Additional Measures to Help Workers, Firms and the Economy to Recover. Construction spending in February increased 6.0 percent from February 2019, with year-over-year gains in both residential and nonresidential outlays, according to a new analysis of federal data released today…

February’s Construction Spending Decline Indicates What’s to Come, Says ABC

by ABC on

WASHINGTON, April 1, 2020 — National nonresidential construction spending fell 1.8% in February, but is up 2.5% compared to the same time last year, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $795.1 billion for the month. Private nonresidential…

Nonresidential Construction Spending Attains All-time High in January, Says ABC

by ABC on

WASHINGTON, March 2, 2020 — National nonresidential construction spending increased by 1.6% in January and is up 5.1% on a year-ago basis, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled a record $806.9 billion in January. Private nonresidential spending…

Global Spending in Construction to Reach $17.5 Trillion by 2030, Finds Frost & Sullivan

by Frost & Sullivan on

The construction industry is in the middle of a transition toward new business models that are technology- and data-driven, better collaboration between stakeholders, and higher productivity. The increasingly aging workforce and digitization are prompting greater investments in workforce management and digital solutions. By 2030, global spending in construction is expected to touch $17.5 trillion, with China, the US, and India leading the way and accounting for…

Nonresidential Construction Spending Falls in October, Says ABC

by Associated Builders and Contractors on

National nonresidential construction spending fell 0.7% in October but is up 1.4% compared to the same time last year, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $776.5 billion, 2.3% lower than the cyclical peak attained in April…

Nonresidential Construction Spending Slows in June, Remains Elevated, Says ABC

by Associated Builders and Contractors on

National nonresidential construction spending declined 1.8% in June, totaling $773.8 billion on a seasonally adjusted annualized basis—a 2.3% increase compared to the same time a year ago, according to an Associated Builders and Contractors analysis of U.S. Census Bureau data published today. Public nonresidential spending fell 3.7% in June, but is up 6.4% year over…

Nonresidential Spending Falls Slightly in March, But Private Construction Hits a New High, Says ABC

by Associated Builders and Contractors on

According to an Associated Builders and Contractors analysis of U.S. Census Bureau data released today, national nonresidential construction spending declined 0.3% in March 2019. On a seasonally adjusted, annualized basis, nonresidential spending totaled $775.2 billion for the month, which represents a 4.8% increase compared to the same time last year. Private nonresidential construction spending rose 0.5%…

U.S. Economic Growth Softens in Final Quarter of 2018, Says ABC

by Associated Builders and Contractors on

This press release has been updated. It previously stated that nonresidential structures expanded at a 6.2 percent annual rate in the fourth quarter, but it was the broader nonresidential investment category that expanded at that rate. Nonresidential investment in structures declined at a 4.2 percent annual rate in the fourth quarter.  The U.S. economy grew…

AGC: Construction Employment and Spending Rise

by Associated General Contractors on

Construction employment increased by 25,000 jobs in May and by 286,000 jobs over the past year while construction spending reached $1.310 trillion in April, according to an analysis of new government data by the Associated General Contractors of America. Association officials noted that the employment and spending increases have come as federal officials have reformed…

Nonresidential Construction Flat in February, Says ABC; Public Sector Spending Plummets

by Associated Builders and Contractors on

Nonresidential construction spending inched 0.1 percent higher in February, according to an Associated Builders and Contractors (ABC) analysis of U.S. Census Bureau data released today. Nonresidential spending, which totaled $732.8 billion on a seasonally adjusted, annualized basis, has expanded 1.3 percent since February 2017. Private sector nonresidential construction spending increased 1.5 percent on a monthly…