by jbs0091509 j3 — September 18, 2009—Downturns in multi-family construction and both private and public nonresidential construction swamped a strong upswing in single-family homebuilding in July, according to an analysis of U.S. Census Bureau data provided by the Associated General Contractors of America’s chief construction economist Ken Simonson. The analysis shows that total construction spending fell 0.2 percent, seasonally adjusted, from a downwardly revised June total.
Simonson noted that public nonresidential spending slipped 0.8 percent from June to July as cutbacks in state and local government budgets offset federal stimulus dollars. The only significant exception was in water supply projects, where spending increased 3.7 percent, following a 6.8 percent jump in June.
Private nonresidential spending fell for the fifth month in a row, slumping 1.2 percent in July, after tumbling 2.2 percent the month before, Simonson added. Losses were most acute for developer-financed categories, with lodging down 8.4 percent for the month and 35 percent compared to July 2008; office down 1.7 percent and 26 percent; and commercial (retail, wholesale and farm), down 1.7 percent and 35 percent, respectively.
The only private categories that exceeded the July 2008 level were manufacturing construction, which rose 0.9 percent for the month and 48 percent over 12 months; and power construction, down 0.8 percent in July but up 10 percent from a year earlier.
