Nonresidential Construction Data Mixed at Year’s End

Issue 14 – Fourth Quarter 2015

Nonresidential construction spending fell in September for the first time in eight months. This, however, is no cause for concern. Spending, which totaled $692.8 billion in September according to a November 2 release by the U.S. Census Bureau, exhibited its largest year-over-year increase since April 2008, five months before the prerecession nonresidential construction spending peak. The month-over-month dip is partly a function of depressed construction materials prices’ cheaper inputs allow contractors to offer their services at somewhat lower prices, all things being equal. The point is that most contractors are busier than they were one year ago.

Table of Contents

• Nonresidential Spending Emerges as One of Economy’s Leading Engines
• Joe’s View – Insights from Marcum’s National Construction Industry Group Leader
• Exhibit 1. Nonresidential Construction Spending, September 2010 through September 2015 – GRAPH
• Exhibit 2. Construction Employment Growth in 20 Largest U.S. Metropolitan Areas, September 2014 v. September 2015, Not Seasonally Adjusted – CHART
• Third Quarter 2015 Performance – CHART

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