August 17, 2015

2015 Economic Recovery Enters Mid-Cycle Phase

Expect Rising Wages, Higher Interest Rates and Solid Demand

2015 Economic Recovery Enters Mid-Cycle Phase

Issue 12 – Second Quarter 2015

The nonresidential construction recovery can now be considered a vigorous one, particularly relative to the balance of the economy. According to an August 3 release supplied by the U.S. Census Bureau, nonresidential construction spending was unchanged on a month-overmonth basis in June, totaling $686.9 billion on a seasonally adjusted, annualized rate. Despite the lack of month-over-month growth, nonresidential spending is 11.5 percent higher than it was at the same time one year ago and expanded 9.8 percent during the year’s first six months, the fastest such growth since the Census Bureau began tracking construction spending in 2002.

Table of Contents

  • Economic Recovery Enters Mid-Cycle Phase
  • Joe’s View – Insights from Marcum’s National Construction Industry Group Leader
  • Exhibit 1. Nonresidential Construction Spending, June 2010 through June 2015 – GRAPH
  • Exhibit 2. Construction Employment Growth in 20 Largest U.S. Metropolitan Areas, June 2014 v. June 2015, Not Seasonally Adjusted – CHART
  • Second Quarter 2015 Performance – CHART

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