This website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more.
This Website Uses Cookies
By closing this message or continuing to use our site, you agree to our cookie policy. Learn More
This website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more.
ENR logo
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
ENR logo
  • News
  • Projects
    • Buildings
    • Construction Methods
    • Design
    • Sustainability
    • Transportation
    • Environment
    • Power & Industrial
    • Water & Dams
    • Best Projects
  • Business
    • Safety & Health
    • Workforce
    • Finance
    • Companies
    • Project Delivery
    • Ethics & Corruption
    • Government
    • Risk
    • Pulse
    • Contractor Business Strategy
  • Talent
    • Awards
      • Top 25 Newsmakers
      • Award of Excellence
      • Legacy Award
      • Top Young Professionals
    • Promotions & New Hires
    • Obituaries
    • Annual Photo Contest
  • Regions
    • ENR California
    • ENR MidAtlantic
    • ENR Midwest
    • ENR Mountain States
    • ENR New York
    • ENR New England
    • ENR Northwest
    • ENR Southeast
    • ENR Southwest
    • ENR Texas & Louisiana
    • Regional Contests and Surveys
  • Tech
    • Information Technology
    • Construction Technology
    • BIM
  • Products
    • Equipment
    • Materials
    • Product Snapshot
  • Ideas
    • Blogs
    • Editorials
    • Viewpoints
    • Letters
    • Book Reviews
  • Costs
    • Construction Economics Archive
    • Construction Cost Index
    • Building Cost Index
    • Historical Indices
    • Quarterly Cost Reports
    • FAQs
  • Lists
    • ENR Top Lists
    • ENR Sourcebooks
    • Survey Schedule
  • CE Center
  • InfoCenters
    • Disrupt or Be Disrupted
    • Innovations in Waterproofing
    • Planning for Project Perfection
    • Revolutionizing Productivity Safety
    • The Business of Projects
  • Events
    • AEC BuildTech
    • Award of Excellence
    • Best of the Best Project Awards
    • FutureTech
    • Groundbreaking Women in Construction
    • Global Best Projects Awards
    • Port Authority of NY & NJ
    • Regional Best Projects
    • Top 25 Newsmakers
    • Upcoming Events
    • Webinars
  • More
    • Subscription
    • Proposals & Bids
    • Industry Jobs
    • Special Reports
    • Sponsor Insights
    • Store
    • Videos
    • Interactive Spotlights
    • Digital Editions
    • Year In Construction Photo Contest
    • Special Advertising Sections
  • About
    • Contact
    • Advertise
Home » Construction Nov. Spending Edges Down from Oct. But Rises Year Over Year
Get access for FREE with your paid ENR magazine subscription!
Finance

Construction Nov. Spending Edges Down from Oct. But Rises Year Over Year

January 4, 2016
Tom Ichniowski
KEYWORDS Census Bureau / construction / spending
Reprints
No Comments

Construction spending on projects completed in November dipped 0.4% from October’s level to a seasonally adjusted annual rate of $1.122 trillion but climbed 10.5% from the year-earlier total, the U.S. Census Bureau has reported.

The bureau’s latest monthly construction-put-in-place report, released on Jan. 4, also showed that spending for the first 11 months of 2015 rose 10.7%.

Residential projects’ November volume edged up 0.2% from October, to a $434.4-billion annual rate and increased 10.9% year over year, said the Census Bureau, which is part of the Commerce Dept.

Nonresidential construction put in place in November declined 0.8% from the previous month, to a $688.1-billion rate, but posted a 10.2% gain compared with November 2014.

Four sectors recorded month-to-month and year-over-year percentage increases. Educational projects totaled an $89.9-billion annual rate, climbing 3.9% from October and 13.8% from November 2014.

Office buildings hit a $59.1-billion rate, up 1.6% month to month and jumping 20.6% from the year-earlier level.

Communication projects totaled $21.9 billion, a 4.4% upturn from October and a 27.8% surge from November 2014. Non-highway transportation projects’ November rate was $45.3 billion, increasing 0.2% on a monthly basis and 3.1% year over year. 

On the negative side, sewage and waste disposal’s $23.8-billion rate dropped 1.4% from October and 1.8% from November 2014. Water supply declined 7.2% for the month and 5.2% year over year, to $13 billion.

Private construction edged down 0.2% in November, month to month, to an annual rate of $829.7 billion. Public-sector construction fell 1%, to 294.3 billion.

Ken Simonson, Associated General Contractors of America’s chief economist, noted the mixed month-to-month results among industry sectors, but added, “Yet nearly every type of construction outperformed its 2014 pace through the first 11 months of 2015.”

Anirban Basu, Associated Builders and Contractors’ chief economist, sees “ominous indications“ in the Census Bureau's report. He said, After experiencing significant spending momentum early last year, that momentum has softened considerably in recent months.”

Basu noted several downbeat business and economic developments, including less robust global economic expansion. He said: “The world suddenly looks considerably riskier. That frequently translates into diminished capital availability, which ultimately translates into weaker construction spending.”



 

Want to read more? Paid ENR magazine subscribers get full access. Login now or Register Your Email.
Not a Subscriber? Purchase TODAY...as low as $39.00 (digital) or $49.00 (print).
Privacy Policy

Related Articles

September Construction Starts Down From August But Rise Year Over Year

Construction Aug. Spending Edges Up from July, Soars Year Over Year

Related Events

Case Study: Finish On Time and On Budget - Insights from Layton Construction

Subscription Center
  • Subscribe
  • Renew Your Subscription
  • eNewsletter Subscriptions
  • Online Registration
  • Subscription Customer Service
  • Connect with ENR

More Videos

Popular Stories

NTSB final Report

Final Collapse Report Details Miami Bridge Team's Failures

The Claw

Famous Concert Stage Structure Becomes New Landmark for Utah Aquarium Expansion

Damaged tower cranes

Tricky Takedown of Tower Cranes Readied Collapsed New Orleans Hotel for Demolition

Southern Ohio Veterans Memorial Highway

Fixing Construction's Fixed-Price Conundrum

BuildGrant image

US DOT Picks Winners for $900M in New BUILD Grants

Industry Jobs



Products

2020 BNi Green Building Square Foot Costbook

2020 BNi Green Building Square Foot Costbook

See More Products

Special Ad Section

Spotlight on Service Providers
 Spotlight on Service Providers
 View all Special Ad Sections
 Archives

 


ENR

ENR December 16, 2019 cover

Dec 16, 2019

To attract a broader and more diverse workforce, companies and unions are courting the LGBTQ+ community and strengthening recruiting and retention efforts.

View More Create Account
  • Resources
    • advertise
    • contact us
    • about us
    • photo submissions
    • customer service
    • digital edition
    • Survey And Sample
  • Subscription Center
    • Subscribe
    • Website Registration
    • Privacy Policy
    • eNewsletters
    • FAQ
  • Multimedia
    • Videos
    • Slideshows
    • Photo Contest

Copyright ©2019. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing