May 18, 2016

Industry Activity is Stable to Start 2016

Spending Fares Better than Employment

Industry Activity is Stable to Start 2016

Issue 15 – First Quarter 2016

Nonresidential construction spending shrank 0.4 percent on a monthly basis in March, though March would have been associated with a nonresidential spending gain were it not for significant upward revisions to February’s data. Nonresidential spending totaled $695.7 billion in March on a seasonally adjusted, annualized basis and is up 8.3 percent from March 2015. Much of that growth is associated with the spring and early summer of 2015. Spending growth has stagnated in more recent months.

Table of Contents

  • Exhibit 1. Nonresidential Spending, March 2016 – CHART
  • Joe’s View
  • Exhibit 2. Nonresidential Construction Spending, March 2014 through March 2016 – GRAPH
  • Exhibit 3. Construction Employment Growth in Twenty Largest U.S. Metropolitan Areas, March 2015 v. March 2016, Not Seasonally Adjusted – CHART
  • First Quarter 2016 Performance – CHART

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