At the national level, the volume of commercial and multifamily construction starts during the first half of 2018 was $101.4 billion, down 1% from last years first half, although still 2% above what was reported during the first half of 2016.
The downward slide in revenue for the Commercial Building Construction industry has reversed since 2012, thanks to a spike in nonresidential construction and corporate profit, as well as sustained growth in consumer spending over the past five years.
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Data estimates include the cost of labor and materials, cost of architectural and engineering work, overhead costs, interest and taxes paid during construction, and contractors profits. Data collection and estimation activities begin on the first day after the reference month and continue for about three weeks.
Commercial construction spending is expected to see an 8.8% increase for the year while Industrial construction spending is going to see a year-over-year decrease of 6.6%. Construction spending through the first nine months of 2017 totaled $917.0 billion, a 4.3% increase over the same period in 2016.
The construction sector is part of the goods-producing industries supersector group. The construction sector comprises establishments primarily engaged in the construction of buildings or engineering projects e.g., highways and utility systems . Establishments primarily engaged in the preparation
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