Steel Markets
November 2, 2020
Nonresidential Construction Spending Lags Behind Home Building
Written by Sandy Williams
Residential construction spending continues to lead nonresidential by a wide gap, said the Associated General Contractors of America. Total construction spending in September increased 0.3 percent from August to a seasonally adjusted annual rate of $1.41 trillion.
Private and public nonresidential spending fell 1.6 percent from August and 4.4 percent from a year ago. In comparison, private residential spending increased 2.8 percent from the prior month and soared 9.9 percent from September 2019.
