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Dive Brief: Construction employment declined by 61,000 in February, while the sector’s unemployment rate soared to 9.6% amid severe winter weather and continuing weakness in new nonresidential projects, according to an analysis by the Associated General Contractors of America of government data released Friday.  The job loss was concentrated in nonresidential construction, with a decline of 60,800 jobs in February, following a dip of 400 jobs in January. The February 2021 total was 316,000 ...

Spending was up on a monthly basis in nine of the 16 nonresidential subcategories. March 4, 2021 Associated Builders and Contractors Inc. National nonresidential construction spending increased 0.9% on a monthly basis in January 2021 but is down 5% since January 2020, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $799.1 billion for the month...

Almost all of the job loss was in nonresidential construction, a segment in which employment declined by 60,800 jobs on net in February.

US Recession Recovery Shows Signs of Stalling with Just 4.0% GDP and 3.0% Nonresidential Construction Growth in Q4 Compared to 33.4% Q3 GDP growth, 4.0% represents drastic slowing, An indication of an economy still beset by uncertainty and interruption. Economic momentum has been decelerating rapidly since the summer, says ABCs chief economist January 28, 2021 Bureau of Economic Analysis The U.S. economy expanded at an annualized 4.0% rate in the fourth quarter of 2020 as the nation’s recove...

Private nonresidential spending was down 1.7%, while public nonresidential construction spending was up 0.5% in December. February 1, 2021 U.S. Census Bureau National nonresidential construction spending declined 0.8% in December 2020, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $790.2 billion for the month, 4.8% lower than in December 201...

Dive Brief: Investments in commercial construction grew by a modest 3% annualized rate during the final quarter of 2020, while the U.S. economy as a whole grew at an annualized 4% rate in that same period, according to Associated Builders and Contractors. “Some observers may say that the economic recovery that began in May 2020 is neatly in place, but that is simply not true,” Anirban Basu, ABC’s chief economist, said in the release. Basu said that the U.S. economy grew by 33.4% during th...

data: US Department of Commerce; graph: ForConstructionPros.com U.S. Commerce Department data from November measured the value of total U.S. construction put in place rising 0.9% to a seasonally adjusted annualized rate of $1.459 trillion, the highest level since the government started tracking the series in 2002. The number was lifted by residential construction spending that soared on a 5.1% leap in single-family housing construction, as nonresidential construction spending fell 0.6%. Te...