The nonresidential total construction spending as of August 2023

The nonresidential total construction spending dataset shows the spending on different types of nonresidential construction projects in the United States, along with the last percent change from previous year for each type of project.

The top 3 types of nonresidential construction projects with the highest last percent changes are:

1. Manufacturing: 65.51%
2. Sewage and waste disposal: 21.79%
3. Conservation and development: 18.19%

The top 3 types of nonresidential construction projects with the lowest last percent changes are:

1. Commercial: 4.48%
2. Religious: 2.40%
3. Communication: 1.55%

The data also shows that overall, nonresidential total construction spending in the United States increased by 9.86% in the last period.

Here are some possible interpretations of the data:

• The high last percent change in manufacturing construction spending may be due to the ongoing trend of reshoring manufacturing jobs to the United States.
• The high last percent change in sewage and waste disposal construction spending may be due to the need to upgrade and modernize aging infrastructure.
• The high last percent change in conservation and development construction spending may be due to the growing focus on sustainability and climate change.
• The low last percent change in commercial construction spending may be due to the uncertain economic outlook.
• The low last percent change in religious construction spending may be due to the decline in religious participation in the United States.
• The low last percent change in communication construction spending may be due to the shift away from traditional forms of communication, such as landline phones and fax machines.