Oct. 31, 2007 - 'Nothing Scary' In Today's Nonresidential Construction Numbers, AGC Says
"Net of inflation, or real, investment in private nonresidential structures jumped 12 percent in the third quarter, the eighth straight quarter this investment category has outpaced gross domestic product growth," Simonson remarked. "You have to go back to the mid-1950s to find another period when private nonresidential construction was so persistently robust.
"The Census Bureau's construction spending report was even sweeter," Simonson commented. "Private and public nonresidential construction climbed 1.8 percent for the month of September and 17 percent over the past 12 months. That was enough to overcome the 1.4 percent fall in residential spending for the month and nearly offset the 16 percent residential drop from 12 months ago.