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Nonresidential Construction Spending On the Mend
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Article


Nonresidential Commercial
Spending on office buildings (new construction and remodeling/retrofit work) rose a modest 5.2 percent between 2011 and 2012.
February 22, 2013 | by Daryl Delano

Recently released U.S. Commerce Department estimates of construction spending for the 12 months of 2012 document the early stages of recovery for most nonresidential building sectors. However, the data also underscores the depth of decline during the Great Recession and the steep uphill climb ahead.

Spending on office buildings (for both new construction and remodeling/retrofit work) rose a modest 5.2 percent between 2011 and 2012. This followed steep declines in 2009, 2010 and – to a lesser extent – in 2011. The dollar-value of office building construction last year rose to $36.6 billion – a level still 47 percent below its 2008 peak.  Similarly, spending on commercial buildings (primarily retail stores, malls, restaurants, etc.) was up 8.2 percent between 2011 and 2012 – but to a level still representing only 53 percent of the $89.7 billion recorded during the peak year of 2007.

Construction in the lodging sector registered the biggest gain last year – but also has the furthest to go to reach its 2008 peak spending level of $35.8 billion. Spending on hotels and motels rose a healthy 24.7 percent during 2012, but the dollar-value level represented less than one-third (only 31 percent) of the peak level recorded just four years earlier.

Click here for a look at spending trends over the past decade for a variety of nonresidential market sectors.

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An AV Guy's Guide to Talking IT

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Recent comments

Thanks for your comment, Alan. I understand and appreciate your frustration about the pictures and belief…

Posted by D. Craig MacCormack on 2014 10 14 · commented on
'Inside Look: Long Island Railroad's Hiperwall Command Center Unveiled'.

Too bad the pictures only show a promo of IntraLogic and no real or simulated picture of what was used during…

Posted by Alan M Hoffberg on 2014 10 14 · commented on
'Inside Look: Long Island Railroad's Hiperwall Command Center Unveiled'.

Benson - nicely done.  This is a trend in some of the smarter integrators in AV, but needs the kind of…

Posted by dave fahrbach on 2014 10 10 · commented on
'5 Strategies for Selling and Renewing Service Plans'.

For sure it’s not always better! Maybe just selling better!

Posted by Argis on 2014 10 06 · commented on
'Getting Over That Growth Hump: 5 Questions to Ask Yourself'.