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Nonresidential Construction Spending Returns to Normal in November

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Nonresidential construction spending grew 0.6% on a monthly and yearly basis in November 2013, according to a Jan. 2 release by the U.S. Census Bureau. In November, spending totaled $583.436 billion on a seasonally adjusted, annualized basis.

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“Construction activity bounced back in November, due in part to the end of the federal government shutdown and an accompanying return to normalcy,” said Associated Builders and Contractors Chief Economist Anirban Basu. “Nonresidential construction spending was up 2.3% on a seasonally adjusted basis compared to September, which makes a better comparison because October, with the federal government shutdown, was not a normal month.

“The recent acceleration in economic activity sets the stage for a much better 2014, both for the broader economy and the nonresidential construction industry,” said Basu. “We can expect nonresidential construction spending to expand during the first half of the year.”

Seven of the 16 nonresidential construction subsectors posted spending increases in November:

• Religious-facility spending grew 0.6% for the month but is down 5.6% from the same time last year.

• Education-related construction spending expanded 0.2% for the month and is up 1.3% on a year-over-year basis.

• Commercial construction spending grew 4.5% in November and is up 17.4% on a yearly basis.

• Communication-related construction spending expanded 10.9% for the month but is down 10.7% compared to November 2012.

• Office construction spending was up 2.6% in November and is 5.6% higher than the same time last year.

• Construction spending in the power category grew 3% on a monthly basis but fell 21.4% on an annual basis.

• Manufacturing construction spending expanded 0.6% in November and is up 14.4% compared to the same time one year ago.

Spending declined in nine nonresidential construction subsectors in November:

• Public safety-related construction spending fell 0.3% but has grown 2.5% on a year-over-year basis.

• Amusement and recreation-related spending was down 0.6% on a monthly basis but has expanded 5.5% from the same time last year.

• Conservation and development spending was down 4.7% for the month but is up 0.1% for the year.

• Lodging spending fell 0.2% on a monthly basis but is up 31.2% on a year-over-year basis.

• Water supply spending declined 3.7% for the month but is 2% higher than the same time last year.

• Health care-related construction spending was down 2.8% for the month and is down 0.3% for the year.

• Sewage and waste disposal-related construction spending declined 8% for the month and has fallen 5.9% on a 12-month basis.


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