By continuing to use the site you agree to our Privacy & Cookies policy

Your browser seems to have cookies disabled. For the best experience of this website, please enable cookies in your browser.

Close

Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Close

US construction figures on the rise

Construction spending rose in the US in September, official figures have shown

The Department of Commerce estimated that investment during the month hit an annualised and seasonally adjusted rate of $851.6 billion.

This was up 0.6 per cent on the revised August figure, and 7.8 per cent higher than the rate for September 2011.

Construction investment in the year to date is now 8.9 per cent higher than in the same periods last year, fuelling talk of a recovery.

While public sector construction continued to slow in September 2012, this was outweighed by a rise in private building.

Private residential construction rose by 2.8 per cent from August to $285.9 billion; private non-residential work was virtually flat to $294.6billion.

Last month there was also an additional 17,000 jobs created in the construction sector - the most since January 2012.

The overall recovery mood is tempered by the current election uncertainty

Falls in public office and commercial spending were the most stark, while there was also a smaller drop in the substantial education sector.

Experts have been divided over the state of the US architecture market, with different sectors and locations seemingly reacting in very different ways.

Buro Happold North America managing director David Herd told AJ in October that it would be spring 2013 before a way forward became clear.

‘The overall recovery mood is tempered by the current election uncertainty, debt ceiling uncertainty and tax uncertainty,’ he said.

 

Subscribe to AJ for £3 per week

Subscribe today and receive 47 issues of the magazine, 12 issues of AJ Specification and full access to TheAJ.co.uk and the AJ Buildings Library

Are you a student?

Students can subscribe to the AJ for £8 per month or £1.60 per week! Click here to start receiving the most recommended magazine for architecture students

 

Have your say

You must sign in to make a comment.

Related Jobs

Sign in to see the latest jobs relevant to you!

The searchable digital buildings archive with drawings from more than 1,500 projects

AJ newsletters