Markets & Competition US construction woes continue 14 December, 2020 SHARE THIS ARTICLE Share Tweet Post Email MOST READ Environment Heidelberg partners with Skanska for sustainable Skanska partners with Heidelberg for sustainable June 28, 2024 Mergers & Acquisitions Ambuja Cements merges with Adani Cementation Adani Group restructures ownership June 28, 2024 US construction woes continue Analysis of February 2010 construction spending shows few bright spots. {reg} US construction numbers continue to struggle as key indicators are still on a downward slope, a report from IHS Global Insight said. Patrick Newport, U.S. Economist for IHS Global Insight, took note of February numbers and concluded that the sector is still on da downturn despite government efforts to stimulate building activity. Public construction fell for the 7th straight month, while construction spending fell 1.3 percent in February. Excluding improvements, -spending fell 0.9% and single-family home construction slipped 0.2% after posting eight straight gains. Multi-family housing construction was flat. Further, non residential construction continued to slide, shedding 0.4 %, while private construction and public construction were down 1.2% and 1.7%, respectively. December's estimate was revised down to minus 3.4% from -1.2%, and January's estimate was revised down to minus 1.4% from -0.6 %, the report said. Newport's says construction spending fell more than 1% for the fourth straight month, as single-family construction spending dropped for the first time in nine months. Multiple-family construction remained stable. Looking more closely at the private nonresidential construction spending category, Newport┬á reported that ÔÇØnearly every category in this sector is a meltdownÔÇØ with power being the one exception. That sector has showed sustained growth--up 9% since the same time last year. IHS Global Insight believes spending in the power sector is largely on alternative fuel sources. It was noted that although money from the federal stimulus bill to finance infrastructure construction is being spent, but that money is not enough to offset overall infrastructure spending from declining, the report said. (/reg) ┬á Sign in Don't have any account? Create one SHOW Forgot your username/ password? Log in Terms Of Service Privacy Policy This site is protected by reCAPTCHA and Terms of Service apply Sign in as: User Registration * Required field Sign In Information Personal Information Agree Yes No Terms of Service:You consent that we will collect the information you have provided us herein as well as subsequent use of our platform to render and personalize our services, send you newsletters and occasionally provide you with other information. * Fields marked with an asterisk (*) are required. Register SaveCookies user preferencesWe use cookies to ensure you to get the best experience on our website. If you decline the use of cookies, this website may not function as expected.Accept allDecline allCW GroupNewsAcceptDecline