Commercial building on decline

January was the second month in a row in which spending on non-residential structures decreased.
MAR 04, 2008
Commercial building is feeling the pain of home construction: January was the second month in a row in which spending on non-residential structures decreased, according to a report issued by the Department of Commerce. Construction spending on non-residential structures such as office buildings, shopping centers and hospitals fell 0.8% in January to $658.6 million from the $663.6 million reported in December. Spending is down 12.4% from the year-ago period, the Commerce Department reported said. Residential construction spending also continued to struggle in January dipping 1.7% to $1.1 billion after declining in December. The Department of Commerce will release construction spending data for February on April 10.

Latest News

Advisor moves: LPL nabs Cetera teams in California, Texas
Advisor moves: LPL nabs Cetera teams in California, Texas

Meanwhile in Florida, Raymond James welcomed a multigenerational advisor group from Stifel, while Merrill reeled in Morgan Stanley advisors in the Chicago North and Nashville markets.

UBS sees 2.2% decline in advisor headcount during the past 12 months
UBS sees 2.2% decline in advisor headcount during the past 12 months

But management remains focused on UBS advisors’ ability to reel in new assets.

VanEck partners with Allocate to expand private markets access
VanEck partners with Allocate to expand private markets access

VanEck is leaning on Allocate's operating platform to bring a private markets offering to financial advisors in weeks, not months.

Carson Group welcomes $1.76B Wells Fargo team in New Hampshire expansion
Carson Group welcomes $1.76B Wells Fargo team in New Hampshire expansion

The Omaha-based RIA's second Hanover office deepens its US expansion as industry dealmaking hits a record clip in 2026.

CAIS, Arch raise fresh capital as advisors lean into private markets
CAIS, Arch raise fresh capital as advisors lean into private markets

The two alternative-investment platforms' new financing – coming from Blue Owl, Carlyle, Franklin Templeton and other big-name backers – signals deepening advisor demand for private-market access.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income