WASHINGTON, Oct. 1—National nonresidential construction spending increased 0.7% in August, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.309 trillion. Spending was up on a monthly basis in 11 of the 16 nonresidential subcategories. Private nonresidential spending was up 1.0%, while public nonresidential construction spending was up 0.2% in August. “Nonresidential construction spending increased for the fifth consecutive month in August as data center investment accelerates,” said ABC Chief Economist Anirban Basu. “Frankly, it’s becoming difficult to contextualize the size and speed of this boom. Data center construction spending leapt another 7.5% in August and is now up more than 73% over the past 12 months. The increases have been particularly large over the past four months, with data center spending increasing at an incredible 149% annualized pace since March. “While momentum…
Data Centers, News
Data Center Construction Spending Growing at 149% Annualized Pace Since March
WASHINGTON, Oct. 1—National nonresidential construction spending increased 0.7% in August, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.309 trillion. Spending was up on a monthly basis in 11 of the 16 nonresidential subcategories. Private nonresidential spending was up 1.0%, while public nonresidential construction spending was up 0.2% in August. “Nonresidential construction spending increased for the fifth consecutive month in August as data center investment accelerates,” said ABC Chief Economist Anirban Basu. “Frankly, it’s becoming difficult to contextualize the size and speed of this boom. Data center construction spending leapt another 7.5% in August and is now up more than 73% over the past 12 months. The increases have been particularly large over the past four months, with data center spending increasing at an incredible 149% annualized pace since March. “While momentum…
Add comment