STEEL FRAMING ALLIANCE | FRAMEWORK ONLINE
  May 5, 2010
MARKETPLACE
 
U.S. construction spending rises in March

WASHINGTON, May 3 (Reuters) - U.S. construction spending unexpectedly rose in March to post the first advance since October, lifted by a rebound in public construction investment, a government report showed on Monday.

The Commerce Department said construction spending increased 0.2 percent, the largest gain since October, to an annual rate of $847.3 billion. That followed February's revised 2.1 percent drop that was previously reported as a 1.3 percent fall.

Economists surveyed by Reuters had forecast construction spending falling 0.3 percent in March.

Public construction spending surged 2.3 percent in March, the biggest rise since February last year, reversing the prior month's 1.6 percent slump. Investment in private construction spending fell 0.9 percent to $550.81 billion, the lowest level since January 1999. Private construction spending fell 2.4 percent in February.

The decline in private construction spending in March was led by private home building, which dropped 1.1 percent. New home construction contracted in the first quarter of 2010 after two straight quarters of gains, subtracting from overall growth during the period, a government report showed on Friday.

Private nonresidential spending, suffering from high vacancy rates and tight access to credit, fell 0.7 percent in March, extending the 1.5 percent decline in February. Investment in structures has dropped for seven straight quarters.

State and local government investment in construction projects rose 2.5 percent in March after falling 2 percent in February. Federal construction rose 0.3 percent, building on a 2.9 percent

Source: Reuters, May 3, 2010

Next Article >>
HEADQUARTERS
New Address
Steel Framing Alliance
1140 Connecticut Avenue
Suite 705
Washington, D.C. 20036
Phone +202.785.2022
Fax +202.785.3856
 
Annual Mtg
 
 
NEW MEMBERS
-
Bowen Engineering Corp
Orlando, FL
-
CTS Engineering
Holladay, UT
-
CPK Building Ltd
Nicosia, Cyprus
-
Ridge Engineering LLC
North Plains, OR
-
Steel Built Corporation
Ambridge, PA
-
Transteq
Houston, TX
-
United Structures
Cairo, GA
 
UPCOMING EVENTS
 

May 10, 2010
Changes to the North American Specification for the Design of Cold-formed Steel Structural Members Presentation
ChampionsGate, FL More

 
 

May 26-27, 2010
CFSEI Conference, Show, & Annual Meeting
Atlanta, GA More

 
 

June 16, 2010
2010 MASFA Expo/Trade Show
College Park, MD More

 
 

September 20-22, 2010
Steel Structures 2010 Culture & Sustainability International
Symposium
Istanbul, Turkey More

 


 
 


Renew 2010 Member Dues | Unsubscribe

Brought to you by the Steel Framing Alliance (SFA) on the first Wednesday of each month, February through December. Framework Online arms you with important news and commentary on the cold-formed steel (CFS) framing and construction industries.