Construction Spending Rises in October

Construction spending during October 2024 was estimated at a seasonally adjusted annual rate of $2,174.0 billion, 0.4% (±1.2%) above the revised September estimate of $2,164.7 billion. The October figure is 5.0% (±1.5%) above the October 2023 estimate of $2,071.1 billion.  During the first 10 months of this year, construction spending amounted to $1,814.8 billion, 7.2% (±1.2%) above the $1,693.2 billion…

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Construction Spending Ticks Up in September

According to the U.S. Census Bureau, construction spending during September 2024 was estimated at a seasonally adjusted annual rate of $2,148.8 billion, 0.1% (±1.0%) above the revised August estimate of $2,146.0 billion.  The September figure is 4.6% (±1.6%) above the September 2023 estimate of $2,055.2 billion. During the first nine months of this year, construction spending amounted to $1,621.4 billion,…

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Nonresidential Construction Employment Increased by 28,300 in August

The construction industry added 34,000 jobs on net in August, according to an Associated Builders and Contractors (ABC) analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment grew by 228,000 jobs, an increase of 2.8%. Nonresidential construction employment increased by 28,300 positions on net, with growth in all three subcategories. Nonresidential…

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May Construction Spending Flat, Up Year-Over-Year

According to the U.S. Census Bureau, construction spending during May 2024 was estimated at a seasonally adjusted annual rate of $2,139.8 billion, 0.1% (±1.0%) below the revised April estimate of $2,142.1 billion. The May figure is 6.4% (±1.6%) above the May 2023 estimate of $2,011.8 billion. During the first five months of this year, construction spending amounted to $836.3 billion,…

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Construction Spending Dips in January; Up Year Over Year

Construction spending during January 2024 was estimated at a seasonally adjusted annual rate of $2,102.4 billion, 0.2% (±0.8%) below the revised December estimate of $2,105.8 billion, according to the U.S. Census Bureau. The January figure is 11.7% (±1.5%) above the January 2023 estimate of $1,882.2 billion. In January, the estimated seasonally adjusted annual rate of public construction spending was $479.0…

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Construction Spending Rises in October

According to the U.S. Census Bureau, construction spending during October 2023 was estimated at a seasonally adjusted annual rate of $2,027.1 billion, 0.6% (±1.0%) above the revised September estimate of $2,014.7 billion. The October figure is 10.7% (±1.6%) above the October 2022 estimate of $1,830.5 billion. During the first 10 months of this year, construction spending amounted to $1,646.0 billion,…

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Construction Spending Ticks Up in November

Construction spending during November 2023 was estimated at a seasonally adjusted annual rate of $2,050.1 billion, 0.4% (±1.0%) above the revised October estimate of $2,042.5 billion.  The November figure is 11.3% (±1.5%) above the November 2022 estimate of $1,842.2 billion. During the first 11 months of 2023, construction spending amounted to $1,817.1 billion, 6.2% (±1.0%) above the $1,711.1 billion for…

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Dodge Construction Network Outlook 2024 Report Predicts Growth

After a year in which the economy and starts slowed considerably, the coming year should provide a transition to stronger growth for construction, according to the Dodge Construction Network’s (DCN) Outlook 2024 economic report. In 2024, total construction starts are expected to gain 7% to $1.2 trillion after growth slowed to just 1% in 2023 (and was down 2% after…

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Construction Materials Prices Dip 0.3% in November; Aggregates Higher

Construction input prices decreased 0.3% in November compared to the previous month, according to an Associated Builders and Contractors (ABC) analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices decreased 0.3% for the month as well. Inputs to construction are still nearly 39% higher than at the start of the COVID-19 pandemic. Construction…

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Construction Spending Rises In July

Construction spending during July 2023 was estimated at a seasonally adjusted annual rate of $1,972.6 billion, 0.7% (±0.5%) above the revised June estimate of $1,958.9 billion. The July figure is 5.5% (±1.2%) above the July 2022 estimate of $1,869.3 billion. During the first seven months of this year, construction spending amounted to $1,101.5 billion, 3.7% (±1.0%) above the $1,062.1 billion…

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