Commercial Construction & Renovation reported on the Marcum Commercial Construction Index for the fourth quarter of 2015.
Commercial Construction & Renovation
Nonresidential construction spending fell in December 2015 but concluded with a year-over-year gain, reports the Marcum Commercial Construction Index for Fourth Quarter 2015. The national accounting firm’s chief construction economist, Anirban Basu, who authored the report, attributed the month-over-month dip to depressed construction materials prices, while pointing to expanding backlogs and a new federal highway bill as reasons for optimism.
During 2015’s final month, nonresidential spending totaled $681.2 billion, an 8.1% increase over the previous year. Only four of 16 nonresidential construction sectors experienced spending increases for the month, including Highway and Street (9.6% on a monthly basis and 11.7 % on a yearly basis), Communication (4% and 37.2%), Sewage and Waste Disposal (1.3% and 9.7%), and Amusement and Recreation (0.5% and 9.2%).