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Nonresidential Construction Spending On the Mend
Most sectors saw improvement in 2012, but activity in most sectors remains well short of pre-recession levels.

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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Recent comments

A good read, Robert. I would like to point out that, like doctors, lawyers almost always either are covered…

Posted by J. Peter Rich, Esq. on 2014 04 16 · commented on
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Arlen, the Jaguars haven’t had a blackout since 2009.

Posted by Marty on 2014 04 16 · commented on
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Welcome to the police state! We should not accept living like this. This increased security only means the…

Posted by Tim Stoffel on 2014 04 15 · commented on
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Nice article Robert. As fate would have it my day job (AV integrator) and my night job (formula1blog.com)…

Posted by Todd McCandless on 2014 03 25 · commented on
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