USA. U.S. non-residential construction in March grew 1.3 percent over the previous month and 12 percent compared to 2007, according to the Associated General Contractors of America (AGC). Also, the revision of the estimated figures for non-residential spending in January and February suggests that U.S. GDP in the first quarter may have exceeded the figures reported by the Bureau of Economic Analysis. And while analysts expect non-residential construction in the public and private sectors to continue, there is a slowdown in public spending, with 15% growth in private spending versus 7.2% in public spending. The biggest problem, however, for the entire sector is the uncontrolled costs of materials, including steel – with increases of 40 to 70% this year – diesel, copper, and record increases in oil and natural gas that can raise the prices of asphalt and plastics.Non-residential construction grows
USA. U.S. non-residential construction in March grew 1.3 percent over the previous month and 12 percent compared to 2007, according to the Associated General Contractors of America (AGC). Also, the revision of the estimated figures for non-residential spending in January and February suggests that U.S. GDP in the first quarter may have exceeded the figures reported by the Bureau of Economic Analysis. And while analysts expect non-residential construction in the public and private sectors to continue, there is a slowdown in public spending, with 15% growth in private spending versus 7.2% in public spending. The biggest problem, however, for the entire sector is the uncontrolled costs of materials, including steel – with increases of 40 to 70% this year – diesel, copper, and record increases in oil and natural gas that can raise the prices of asphalt and plastics.
