Tuesday, May 12, 2009

Some good news for commercial construction

Tired of reading the bad news about the commercial construction industry? I'm tired of writing about it, so I can only assume that you're equally sick of seeing all those grim statistics and predictions staring back at you.

But, and this is a bit of a change of pace, there have been some encouraging signs for the commercial construction industry lately.

The Commerce Department in early May reported that spending on construction projects increased in March by 0.3 percent to $969 billion. That may seem like a minor increase, but it represents the first increase in commercial construction of any kind in six months.

According to the Commerce Department numbers, while residential construction spending was still down, certain nonresidential projects looked strong. Spending was up, for instance, on government structures and power plants.

There is hope that these projects will continue to increase as the federal government continues to distribute dollars from its economic stimulus packages passed earlier this year.

Let's hope this is just the beginning of the good news.

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