The spike in Covid-19 caused by the highly contagious Delta Variant is slowing the economic recovery in numerous sectors of the economy—case in point the construction industry.
"National nonresidential construction spending expanded 0.1% in July, a decrease of 4.2% from last year at this time, according to an Associated Builders and Contractors analysis of data published Sept. 1 by the U.S. Census Bureau," reports Jennifer Goodman.
A press release from the Associated Builders and Contractors (ABC) elaborated on the bad news with a soundbite from ABC Chief Economist Anirban Basu, who says that the numbers are "meaningfully worse than they appear."
"When adjusting for inflation, the volume of construction services delivered by the U.S. commercial contractors actually declined in July," explains Goodman.
ABC blames the construction slowdown on higher materials prices and worsening skills shortages.
Gooodman provides additional details from the analysis, such as the trend having a bigger impact on public construction spending compared to private. The sectors with the largest declines were 1) public safety (-38.5%), lodging (-30%), and conservation and development (-21.5%).
FULL STORY: Delta variant 'significantly' slowing construction recovery, economist says
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Caltrans
San Francisco Municipal Transportation Agency
City of Orange
Chaddick Institute at DePaul University
HUD's Office of Policy Development and Research
HUD's Office of Policy Development and Research
Montrose County
Wichita-Sedgwick County Metropolitan Area Planning Department
City of Lomita
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This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
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Learn the tools for implementing Universal Design in planning regulations.
