Data: Factory Construction Spending up 58% Since Pandemic Started - Modern Distribution Management

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Data: Factory Construction Spending up 58% Since Pandemic Started

The figure is significantly above the 6.6% increase in overall nonresidential spending, according to firm Marcum LLP.
Silhouette engineer standing orders for construction crews to wo

Manufacturing-related construction spending is up 58.2% since the start of the COVID-19 pandemic in spring 2020, according to a new report from firm Marcum LLP.

That figure is significantly above the 6.6% increase in overall nonresidential spending, and the trend may continue this year, according to the report.

“Given the scale and anticipated duration of many of these large-scale projects, the segment should retain momentum throughout 2023,” wrote Anirban Basu, Chief Construction Economist at Marcum LLP.

Permits for new residential construction were 27.3% lower in January 2022 than the year before, according to the report. Permits for construction of new one-unit housing structures have dropped for 10 straight months. Existing home sales fell 38.1% during 2022, the report states.

Read more about the report here.

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