That start of summer is seeing the start of a slowdown in nonresidential construction spending. National nonresidential construction spending decreased 0.2% in May, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.237 trillion. Spending was down on a monthly basis in half of the nonresidential subcategories. Private nonresidential spending was down 0.4%, while public nonresidential construction spending was practically unchanged in May. Private sector nonresidential activity remains particularly weak and is down nearly 7% from its January 2023 peak. Manufacturing investment, which increased more than 200% in recent years, has begun to fall and is now down more than 5% since its August 2024 peak. With the exception of data centers, on which spending increased another 1% in May, there are few categories with momentum. (ICE HOUSTON)

Fonte notizia: https://www.constructionexec.com