Nonresidential Construction Spending Increased 0.4% in February - Modern Distribution Management

Log In

Nonresidential Construction Spending Increased 0.4% in February

Private nonresidential spending was up 0.7%, while public nonresidential construction spending was down 0.2% in February.
Crane and building construction site against blue sky

U.S. nonresidential construction spending increased 0.4% during February, according to an Associated Builders and Contractors analysis of data published April 3 by the U.S. Census Bureau.

On a seasonally adjusted annualized basis, nonresidential spending totaled $982.2 billion for the month, according to the data.

Spending declined on a monthly basis in 9 of the 16 nonresidential subcategories. Private nonresidential spending was up 0.7%, while public nonresidential construction spending was down 0.2% in February, ABC’s analysis said.

Nonresidential construction spending increased 0.3% in January.

“Nonresidential construction spending increased for the eighth time in the past nine months in February,” said ABC Chief Economist Anirban Basu. “Importantly, almost all of the nonresidential sector’s momentum is attributable to manufacturing-related construction, which accounted for nearly 35% of the year-over-year growth in spending. Excluding the manufacturing segment, spending in the other 15 nonresidential segments collectively declined in February.”

Source: ABC

“While the manufacturing segment should continue to see elevated levels of investment, tightening credit conditions will likely hinder nonresidential construction momentum in the near term,” Basu added. “Contractors maintain a healthy level of backlog, according to ABC’s Construction Backlog Indicator, but a gloomy economic outlook and difficulty securing financing are potential headwinds for the industry for the rest of 2023.”

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.