Construction spending during December 2023 was estimated at a seasonally adjusted annual rate of $2,096.0 billion, 0.9% (± 0.8%) above the revised November estimate of $2,078.3 billion. The December figure is 13.9% (±1.5%) above the December 2022 estimate of $1,840.9 billion.
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Construction Spending Rises in September
According to the U.S. Census Bureau, construction spending during September 2023 was estimated at a seasonally adjusted annual rate of $1,996.5 billion, 0.4% (±1.2%) above the revised August estimate of $1,988.3 billion.
Read MoreConstruction Spending Rises in May, Highways Down
Construction spending during May 2023 was estimated at a seasonally adjusted annual rate of $1,925.6 billion, 0.9% (±0.5%) above the revised April estimate of $1,909.0 billion. The May figure is 2.4% (±1.2%) above the May 2022 estimate of $1,880.9 billion. During the first five months of this year, construction spending amounted to $740.8 billion, 2.9% (±1.0%) above the $719.6 billion for the same period in 2022.
Read MoreConstruction Spending Rises in March; Highways Up
According to the U.S. Census Bureau, construction spending during March 2023 was estimated at a seasonally adjusted annual rate of $1,834.7 billion, 0.3% (±0.5%) above the revised February estimate of $1,829.6 billion. The March figure is 3.8% (±1.2%) above the March 2022 estimate of $1,768.2 billion. During the first three months of this year, construction spending amounted to $403.3 billion, 4.3% (±1.0%)…
Read MoreConstruction Spending Rises in February; Highways Higher
According to the U.S. Census Bureau, construction spending during February 2023 was estimated at a seasonally adjusted annual rate of $1,844.1 billion, 0.1% (±0.7%) below the revised January estimate of $1,845.4 billion.
Read MoreConstruction Spending Up Slightly for Month; Significantly for Year
According to the U.S. Census Bureau, construction spending during November 2022 was estimated at a seasonally adjusted annual rate of $1,807.5 billion, 0.2% (±0.8%) above the revised October estimate of $1,803.2 billion. The November figure is 8.5% (±1.3%) above the November 2021 estimate of $1,665.2 billion.
Read MoreConstruction Spending Declines in October
Construction spending during October 2022 was estimated at a seasonally adjusted annual rate of $1,794.9 billion, 0.3% (±1.2%) below the revised September estimate of $1,800.1 billion. The October figure is 9.2% (±1.5%) above the October 2021 estimate of $1,644.3 billion, according to the U.S. Census Bureau.
Read MoreConstruction Spending Up Year-Over-Year; Highways Down
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.
Read MoreConstruction 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…
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