Home > News > Industry News > Nonresidential building drives construction spending up 4.8 percent in 2006

Nonresidential building drives construction spending up 4.8 percent in 2006

Post Time:Nov 12,2013Classify:Industry NewsView:68

Despite the declining residential building market, total construction spending in 2006 reached $1.2 trillion, up 4.8 percent from 2005, according to a Jan. 31 release from the U.S. Census Bureau of the Department of Commerce. Spending in the residential sector fell from $651 billion to $639 billion, a 1.7 percent decline, while nonresidential spending increased 13.3 percent from $493 billion to $559 billion, according to the release. Within the nonresidential segment, the lodging category saw spending gains of 53.3 percent, increasing from $13 billion to $20 billion. Office spending increased 14.4 percent from $47.7 billion in 2005 to $54.6 billion in 2006, and commercial construction increased 9.8 percent from $73.7 billion to $80.9 billion, according to the release. The health care and educational categories also saw gains, rising 14.1 percent and 6.6 percent, respectively, according to the release. Construction spending in December alone, however, dipped 0.4 percent from November, and 1.4 percent from December 2005, according to the release. For the complete Census Bureau release, click here. January construction spending data will be released March 1. Share this article:

Source: http://www.glassmagazine.com/news-item/commercial/nonresidential-building-drives-construction-spending-48-percent-2006Author:

Hot News

返回顶部