Manufacturing weakness deepened in March as nonresidential construction spending fell for a second straight month, leaving data centers and power infrastructure among the few major growth segments.
Commercial construction appears strong at year’s end, but new data and field reporting reveal a more complicated picture beneath the surface. What’s really driving the market now?
Economic uncertainty and rising prices lead to declining construction activity in July, the third consecutive month nonresidential construction spending has fallen.
Construction spending in the U.S. fell by 0.2% in December, to a seasonally adjusted annual rate of $1.18 billion, according to the U.S. Dept. of Commerce’s Census Bureau.