Private, non-residential construction 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.
Top Posts & Pages
- Stabenow, Cochran brace for full Senate vote on Farm Bill
- District at Eastover construction to start later this year
- Ex-Northwest Rankin coach David Coates dies before drug trial
- Counties ‘hoping to get it right’ as they await Tuscaloosa Marine shale boom
- Fervor grows for Tuscaloosa Marine Shale
- Keeping Our Eye On Nathan McNeill
- Forward-thinking power companies transform “disruptions” into opportunities
- OUR VIEW: USM makes right call by calling off tornado relief campaign
- WILLOUGHBY: Rubinsky grows First Class Linen from ground up