May 30, 2019
Economy Surging, Construction Industry with It
Construction Activity Elevated, More Skilled Labor Needed
Issue 27 – First Quarter 2019
Private nonresidential construction spending, which exceeded $460 billion in March on a seasonally adjusted, annualized basis, is at its highest observed level since the Census Bureau began tracking the series in 2002. While several subsectors have contributed to this record high, manufacturing-related construction spending is up 10.3 percent on a year-over-year basis and recently eclipsed $70 billion on an annualized basis for the first time in over two years.
Table of Contents
- Economy Surging, Construction Industry with It
- Joe’s View
- Exhibit 1. Private Nonresidential Construction Spending, March 2019
- Exhibit 2. Total Nonresidential Construction Spending, March 2019
- Exhibit 3. Nonresidential Construction Spending, March 2015 through March 2019
- Exhibit 4. Construction Employment Growth, 20 Largest U.S. Metropolitan Areas, April 2018 v. April 2019
