Private and Public Nonresidential Construction Exhibits Ongoing Lack of Momentum
Issue 4 – Second Quarter 2013
The U.S. economy has now entered its fifth year of economic recovery. Second quarter gross domestic product surprised to the upside, expanding 1.7 percent on an annualized basis despite many forecasts indicating that the second quarter estimate would come in at less than 1 percent. Despite a macroeconomic context associated with a booming stock market and sixteen consecutive quarters of economic expansion, nonresidential construction continues to manifest a decided lack of spending momentum.
- Private and Public Nonresidential Construction Exhibits Ongoing Lack of Momentum
- Joe’s View – Insights from Marcum’s National Construction Industry Group Leader
- Exhibit 1. Nonresidential Construction Spending, March 2009 through June 2013 – GRAPH
- Exhibit 2. Construction Employment Growth in 20 Largest US Metropolitan Areas, March 2013 v. March 2012 – CHART
- Second Quarter 2013 Performance – CHART