Non-residential construction still slumping
Private non-residential construction spending fell by 0.5 percent in June, according to the August 3 report by the U.S. Census Bureau. On a year-over-year basis, private non-residential construction is down 4.8 percent from June 2008.
Overall, total non-residential construction spending, including both private and public, is up 0.1 percent from May 2009 to $711.9 billion, but down 0.7 percent from June 2008.
Among the sectors showing gains from May to June 2009 are water supply construction, up 4.6 percent, amusement and recreation construction, up 3.7 percent, religious, up 3.4 percent, and healthcare construction, up 2.6 percent. Those sectors reporting the largest year-over-year spending increases include manufacturing, up 45.4 percent, public safety, up 14.1 percent. and power construction, up 13.3 percent.
In contrast, those sectors posting losses from the previous month include conservation and development, down 5.5 percent, communication, down 5.0 percent, and lodging construction, down 3.0 percent. On a year-over-year basis, commercial construction is down 28.2 percent, lodging is lower, down 25.9 percent, and communication construction is down 22.5 percent.
Residential construction increased slightly for the month and is up 0.7 percent, but still down 29.3 percent on a year-over-year basis. Overall, total construction spending is up 0.3 percent for the month, but is down 10.2 percent from June 2008.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Brandon man hauls in record 756-pound alligator
- McDaniel delays decision on whether to appeal dismissal of lawsuit
- FLIPPING OUT — Flipping houses is popular in much of the country, but in Mississippi ...
- More than a dozen school districts sue state over funding
- REVVING UP — Motorcars of Jackson is preparing to open its first-ever showroom on I-55
- Jackson to get C Spire's high-speed internet
- Is cotton looking too good? Farmers facing weaker prices
- New York firm buying majority interest in Tupelo mall, shopping center
- Bryant issues executive order to establish Delta water task force