Nonresidential Construction Sector Flat in Fourth Quarter
Issue 2 – Fourth Quarter 2012
The combination of electoral uncertainty, fears of a fall off the fiscal cliff, a sharp decline in defense outlays and negative adjustments to inventory produced a shrinking U.S. economy during last year’s final quarter. Real gross domestic product decreased 0.1 percent at a seasonally adjusted annual rate in the fourth quarter, ending a growth streak for the U.S. economy that spanned 13 quarters. Overall annual economic growth tallied 2.2 percent in 2012, following a 1.8 percent annual increase in 2011.
- Nonresidential Construction Sector Flat in the Fourth Quarter
- Joe’s View – Insights from Marcum’s National Construction Industry Group Leader
- Exhibit 1. Monthly Nonresidential Construction Employment, January 2009 through December 2012 – GRAPH
- Exhibit 2. Architecture Billings Index, December 2007 through December 2012 – GRAPH
- Fourth Quarter 2012 Performance – CHART