What We Learned in August: Construction Industry Lacks Broad-Based Momentum
The construction industry posted another month of lackluster growth. While nonresidential spending increased modestly and contractors continued to add jobs, momentum is highly concentrated in the data center category.

Nonresidential Construction Lacks Momentum Beyond Data Centers
Nonresidential construction spending inched higher in June but is still down more than 2% on a year-over-year basis. Momentum remains highly concentrated in the data center segment, and the private side of the segment is particularly weak. Excluding data centers, private nonresidential spending is down nearly 8.0% over the past year. While the power category, which has benefited from the boom in data center construction, remains strong, most nonresidential segments are struggling in the face of high borrowing and material costs.

Reprinted courtesy of Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.