Landscape Architect & Specifier News

DEC 2018

LASN is a photographically oriented, professional journal featuring topics of concern and state-of-the-art projects designed or influenced by registered Landscape Architects.

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Page 16 of 101

December 2018 17 Total Construction Spending The value of construction put in place is currently running 7.2% higher than last year, led by public construction, which is posting an 11% gain. Private construction is up 6.1%. forecasts that the year will end with a total gain of 6.3%, and that smaller increases of 5.8% and 5.4% will be seen in 2019 and 2020 respectively. 2015 2018 2019 2017 2016 $1.112 $1.164 $1.273 $1.329* $1.387** Dollars Spent in Billions Construction Put in Place Total Nonresidential Construction Spending Total spending on nonresidential construction saw a 12-month gain of 8.9%. predicted a 4.5% improvement in 2018, followed by increases of 4.7% and 4.9% in 2019 and 2020 respectively. But the latest Dodge Momentum Index, a monthly measure of nonresidential building projects in planning, declined 4.2%; the third consecutive shortfall. The report has been shown to lead construction spending for nonresidential buildings by a full year. 2015 2016 2017 2018 2019 Dollars Spent in Billions $672.1 $700.1 $722.0 $767.1* Spending on residential construction is up 4.9% over the same reporting period in 2017. Mid-year, forecasted that the year would end with an 8.6% gain, which doesn't seem likely at this point. The construction data provider predicted an additional 7.2% rise in the residential sector in 2019 and a 6.1% increase in 2020. $464.3 $550.6 2018 2019 2017 2016 $562.3* $610.0** $777.4** Total Residential Construction Spending Dollars Spent in Billions 2015 $440.2 To view and learn more about Construction spending trends, visit and search construction *Seasonally adjusted annual rate for last reporting period **'s forecast

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