Commercial Construction & Renovation

Total nonresidential construction spending was 6.6 percent higher in 2014 than in 2013 on a nonseasonally adjusted basis, with all signs pointing toward continued construction spending growth in 2015. This is the good news reported by the Marcum Commercial Construction Index for the fourth quarter of 2014, released today by accounting firm Marcum LLP. Seven of 16 nonresidential construction subsectors posted spending increases in December on a monthly basis, led by communication construction and highway and street-related construction, both up by 2.5 percent. Year-over-year, conservation and development-related construction spending showed the biggest gain, with growth of 24 percent for the 12-month period. For the complete Index, and for more information, visit www.marcumllp.com/construction.