Steel Markets
October 3, 2013
Non-Residential Construction: A Detailed Analysis
Written by Peter Wright
The Commerce Department data for construction expenditures in August should have been released on October 1st but due to the government shutdown is not available. We therefore decided to use our existing data and to take a more detailed look at non residential construction which is by far the largest sector of total construction expenditures.
Total construction expenditures in 2013 through July were $491,769 million. The first cut the Commerce Department makes to this number is to break it out into its funding source. Private, state + local and federal. This year privately financed construction has accounted for 70.5 percent of the total, state + locally funded has been 26.8 percent and federally funded only 2.7 percent. There are a huge number of sub categories in the private and state + local construction expenditure categories, not so many in federal where expenditures are minimal. At Steel Market Update we combine these sub categories in-order to make the data more understandable.
