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Industry News
Nonresidential Construction Spending
Falls 1.6 Percent in February 2012
Summary
"If it wasn’t for the mild winter, construction spending would have fallen
even more sharply in February." —ABC Chief Economist Anirban Basu.
In a clear indication that the construction industry continues to feel the
effects of the nation’s economic woes, total nonresidential construction
spending fell 1.6 percent in February to a seasonally adjusted
annual rate of $555.4 billion, according to the April 2 report by the U.S.
Census Bureau. However, total nonresidential construction spending is
up 6.4 percent from one year ago.
Private nonresidential construction spending decreased 1.6 percent for
the month, but is up 14.5 percent
year over year. Public nonresidential
construction spending fell 1.7
percent for the month and is down
0.7 percent compared to February
2011.
Twelve of the sixteen nonresidential
construction subsectors experienced
decreases in spending for
the month, including amusement
and recreation, down 3.9 percent;
lodging, 3.2 percent lower; water
supply, down 2.8 percent; highway
and street, down 2.7 percent; and
commercial, 2.6 percent lower.
Subsectors posting the largest decreases
in year-over-year spending
include conservation and development,
down 24.6 percent; lodging, 9.4 percent lower; religious, down
9.4 percent; water supply, down 7 percent; and transportation, down
5.5 percent.
In contrast, four of the sixteen nonresidential construction subsectors
posted increases for the month, including religious, up 2.7 percent;
manufacturing, 2.2 percent higher; public safety, up 0.9 percent; and
sewage and waste disposal, up 0.5 percent. Eight subsectors have
experienced gains in spending during the past twelve months, including
manufacturing, up 40.3 percent; power, 22.1 percent higher; public
safety, up 11.4 percent; health care, 7.7 percent higher; and commercial,
up 5 percent.
Residential construction spending was unchanged for the month and
is 4.6 percent higher compared to the same time last year. Overall,
total construction spending – which includes both nonresidential and
residential – was down 1.1 percent in for the month, but is 5.8 percent
higher than February 2011.
Analysis
“While the nation’s economy has been improving since last September,
Associated Builders and Contractors’ (ABC) Construction Backlog Indicator
(CBI) accurately predicted construction activity would suffer a lull
during the early months of 2012,” said ABC Chief Economist Anirban
Basu.
20 MAY 2012 BUILDING CENTRAL FLORIDA
“ABC’s CBI declined during last year’s fourth quarter, largely due to the
soft patch that emerged economy-wide early last year,” Basu said. “The
combination of rising commodity and input prices, along with the debt
ceiling issues that plagued the nation last year, weakened financing
availability and demand for design services, which is now translating
into diminished construction activity.
“Last year’s soft patch likely impacted construction activity more than
the data reflect,” said Basu. “If it wasn’t for the mild winter, construction
spending would have fallen even more sharply in February.
“Overall, the outlook for construction is generally positive,” Basu said.
“Unless there is another hiccup in the nation’s economic momentum,
construction spending
data will come to reflect
the improvement in the
broader economy that
observers noted during the
past half year.”
New Members
Learn how to take advantage of all that ABC has to offer, please contact
Stephen Lewis, Membership Director at slewis@abccentralflorida.org or (407) 398-1278.
Allied Building
Richard Lopez, Branch Manager
6363 Edgewater Dr.
Orlando, FL 32810
Phone: (407) 522-6172
Fax: (407) 295-3187
E-mail: richard.lopez@alliedbuilding.com
Website: www.alliedbuilding.com
Supplier
Interior Building Materials
Capri Contractors, Inc.
Sunia Piermont, Vice President
735 N. Thornton Ave.
Orlando, FL 32803
Phone: (407) 228-4645
Fax: (407) 228-4648
Email: capri.sunia@gmail.com
Website: www.capricontractors.com
General Contractor
Under $500,000
Sponsor: Brian Butler, JCB Construction, Inc.
"Welcome!" to our new members joining in March 2012!
Member Milestones
Nassal Metal Works
Casey Dunn, Business
Development Coordinator
415 West Kaley Street
Orlando, FL 32806
Phone: (407) 648-0400
Fax: (407) 367-7828
Email: cdunn@nassal.com
Web Site: www.nassal.com
Subcontractor
$1,000,000 -$3,000,000
Architectural and Ornamental Metal
Fabrication Services
Sponsor: Sean DeMartino, Balfour Beatty
Construction, LLC
Rain for Rent
Adam Phillips, Regional Marketing
1840 Fairbanks St. W.
Lakeland, FL 33805
Phone: (863) 688-3332
Fax: (863) 688-7626
Email: aphillips@rainforrent.com
Web Site: www.rainforrent.com
Supplier
Names: Randy Brooks, Walt Juergensen, Mike Moore and Greg Roebuck
Company: Aagaard-Juergensen, LLC
Milestone: 125 members sponsored by Aagaard-Juergensen executives
Background: There are about ten companies which can claim membership in the
Central Florida Chapter since the beginning, and Aagaard-Juergensen is one of them. They
actually joined the Florida Gulf Coast Chapter when it covered this part of Florida before
the chapter was officially chartered in 1973.
Much has changed over the past 39 years within the industry and within ABC, but the
senior management of Aagaard-Juergensen has been steadfast supporters of this association
and the principles of merit shop construction. They have shown this commitment
through board service and financial support of the organization. Walt Juergensen was on
the first Board of Directors and served as the 1976 chapter president. Randy Brooks came
on the board in the 1980s and served as the 1995 chapter president. Company preconstruction
director Greg Roebuck, then the owner of Sherrod Floor Covering, served as
the chapter president in 1993. Today, Mike Moore was recently elected to move up from
the Board on to the Executive Committee, and will be the next in a line of leaders to serve
as chairman in a couple of years.
Aagaard-Juergensen once again stepped up to be the general contractor for the construction
of the ABC’s office building in 2004, and Randy served as project manager, working
with many subs and suppliers to coordinate volunteer and discounted products and labor
to build the building.
With their commitment came the knowledge that ABC needed to grow its membership.
Between the four executives, they have recruited a total of 125 members since joining
themselves, and all are in ABC’s Beam Club with high honors.
The Beam Club is an exclusive national recognition for members who sponsor members.
For more information about the Beam Club, please visit www.abccentralflorida.com/beam.
Rental Tanks, Pumps, Pipe, and Filtration
Systems
Sponsor: Roy Burkett, S.I. Goldman
Company, Inc.
Richard Flanders Enterprises, Inc.
Harlan Rosenberg, President
2831 Cardassi Dr.
Ocoee, FL 34761
Phone: (407) 592-1801
Fax: (407) 656-1932
Email: rfeiorl@aol.com
Web Site: www.richardflanders.com
Subcontractor
Under $500,000
HVAC Testing, Balancing, and Commissioning
Sponsor: Roy Burkett, S.I. Goldman
Company, Inc.
Steel Service Corporation
James Souza, Vice President
2260 Flowood Dr.
Jackson, MS 39232
Phone: (601) 939-9222
Fax: (601) 939-9359
E-mail: jsouza@steelservice.com
Website: www.steelservice.com
Supplier
Steel Supply & Installation
Sponsor: Brad Winans, Hensel Phelps
Construction Company
The Bancorp Bank / Mears Motor Leasing
Michael Combs, Vice President
of Sales & Marketing
3905 El Rey Rd.
Orlando, FL 32808
Phone: (407) 489-8507
Fax: (407) 264-8777
Email: mcombs@thebancorp.com
Website: www.thebancorp.com
Associate
Automotive/Equipment Leasing and
Fleet Management Services
MAY 2012 BUILDING CENTRAL FLORIDA 21