The U.S. Census Bureau reported that construction spending during June 2022 was estimated at a seasonally adjusted annual rate of $1,762.3 billion, 1.1% (±1.0%) below the revised May estimate of $1,781.9 billion. The June figure is 8.3%(±1.5%) above the June 2021 estimate of $1,628.0 billion.
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Construction Spending Flat in May
The U.S. Census Bureau announced that construction spending during May 2022 was estimated at a seasonally adjusted annual rate of $1,779.8 billion, 0.1% (±0.8%) below the revised April estimate of $1,782.5 billion. The May figure is 9.7% (±1.3%) above the May 2021 estimate of $1,621.9 billion.
Read MoreSimonson Says
April 18, 2022 – Ken Simonson, Associated General Contractors economist, noted that construction input costs outpaced bid prices again in March, according to Bureau of Labor Statistics (BLS) data. The producer price index (PPI) for material and service inputs to new nonresidential construction jumped 2.7% for the month and 21.5% year-over-year (y/y). The PPI for new nonresidential building construction – a measure of the price that…
Read MoreConstruction Spending Ticks Up in February
The U.S. Census Bureau reported that construction spending during February 2022 was estimated at a seasonally adjusted annual rate of $1,704.4 billion, 0.5% (±0.7%) above the revised January estimate of $1,695.5 billion. The February figure is 11.2% (±1.2%) above the February 2021 estimate of $1,533.3 billion.
Read MoreConstruction Spending Rises in January; Up Year-Over-Year
The U.S. Census Bureau announced that total construction spending during January 2022 was estimated at a seasonally adjusted annual rate of $1,677.2 billion, 1.3% (±0.8%) above the revised December estimate of $1,655.8 billion. The January figure is 8.2% (±1.2%) above the January 2021 estimate of $1,549.8 billion.
Read MoreConstruction Spending Flat in December; Up 8% in 2021
The U.S. Census Bureau announced that construction spending during December 2021 was estimated at a seasonally adjusted annual rate of $1,639.9 billion, 0.2% (± 0.8%) above the revised November estimate of $1,636.5 billion. The December figure is 9.0% (±1.0%) above the December 2020 estimate of $1,504.2 billion.
Read MoreConstruction Spending Ticks Up in November; Highways Down
The U.S. Census Bureau announced that construction spending during November 2021 was estimated at a seasonally adjusted annual rate of $1,625.9 billion, 0.4% (±1.0%) above the revised October estimate of $1,618.8 billion. The November figure is 9.3% (±1.2%) above the November 2020 estimate of $1,487.2 billion.
Read MorePopulation Stagnation
Dec. 21, 2021 – According to Ken Simonsen, chief economist at Associated General Contractors, U.S. population growth slowed between July 1, 2020 and July 1, 2021 to “0.1%, the lowest rate since the nation’s founding,” the Census Bureau reported. Population changes over time are a major contributor to demand for numerous types of construction, funding for public construction, and supply of potential construction workers. “The slow…
Read MoreConstruction Spending Down in August; Highways Dip
Construction spending during September 2021 was estimated at a seasonally adjusted annual rate of $1,573.6 billion, 0.5% (±1.0%) below the revised August estimate of $1,582.0 billion. The September figure is 7.8% (±1.5%) above the September 2020 estimate of $1,459.3 billion.
Read MoreConstruction Spending Flat in August; Highways Up
The U.S. Census Bureau announced that construction spending during August 2021 was estimated at a seasonally adjusted annual rate of $1,584.1 billion, virtually unchanged from (±1.0%) the revised July estimate of $1,584.0 billion. The August figure is 8.9% (±1.5%) above the August 2020 estimate of $1,455.0 billion. During the first eight months of this year, construction spending amounted to $1,034.5 billion, 7.0%…
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