Private and Public Nonresidential Construction Recovery Remains Sporadic
Issue 6 – Fourth Quarter 2013
The U.S. economy has now entered its sixth year of economic recovery. During the fourth quarter of 2013, the U.S. economy expanded again, this time at a 3.2 percent annualized rate. 2013 will not go down in history as a great year for the U.S. economy, and tax increases, sequestration, and a still sluggish global economy are all partially to blame for this result. That said, economic momentum developed over the course of the year and 2013’s final six months were reasonably encouraging.
- Private and Public Nonresidential Construction Recovery Remains Sporadic
- Joe’s View – Insights from Marcum’s National Construction Industry Group Leader
- Exhibit 1. Nonresidential Construction Spending, March 2009 through December 2013 – GRAPH
- Exhibit 2. Construction Employment Growth in the 20 Largest US Metropolitan Areas, December 2013 v. December 2012 – CHART
- Fourth Quarter 2013 Performance – CHART