‘Unexpected good news:’ Nonresidential construction spending up 1.6 percent

|  October 03, 2011 |

An Oct. 3 report by the U.S. Census Bureau shows that nonresidential construction spending, which includes both privately and publicly financed construction, was $553.1 billion in August, up 1.6 percent for the month and 0.1 percent higher from one year ago, according to the Associated Builders and Contractors.

“[This] should be considered a bit of unexpected good news,” said Associated Builders and Contractors Chief Economist Anirban Basu. “Current economic conditions pointed towards a much less rosy prediction of construction spending.”

However, Basu says, “many economists continue to stress the possibility of another recession, which, among other things, would have the impact of further constraining demand for construction services.”

Do you want some tips to stay safe on the job site?

Equipment World has created an entire section devoted to safety.

Click here to check it out. »

 

Here are the most recent tips we've posted:

Hauling headaches: Know your load limits when trailering equipment

One-man machines: The operator should be the only person on a wheel loader

advertisement
advertisement
advertisement
advertisement