According to the U.S. Census Bureau, construction spending during January 2025 was estimated at a seasonally adjusted annual rate of $2,192.5 billion, 0.2% (±0.7%) below the revised December estimate of $2,196.0 billion. The January figure is 3.3% (±1.3%) above the January 2024 estimate of $2,122.2 billion. In January, the estimated seasonally adjusted annual rate of public construction spending was $506.6…
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The Population Growth Recovery
I have had a fascination with U.S. population numbers since I had to write a paper in high school about how population growth affects our economy. That was 55-plus years ago, and I have continued to watch the topic with great interest. Much has changed since the late 1960s, and sometimes demographers miss the boat as they have in the…
Read MoreConstruction Spending Down in July
According to the U.S. Census Bureau, construction spending during July 2024 was estimated at a seasonally adjusted annual rate of $2,162.7 billion, 0.3% (±1.0%) below the revised June estimate of $2,169.0 billion. The July figure is 6.7% (±1.8%) above the July 2023 estimate of $2,027.4 billion. During the first seven months of this year, construction spending amounted to $1,237.5 billion,…
Read MoreConstruction Spending Down in June; Up for Year
According to the U.S. Census Bureau, construction spending during June 2024 was estimated at a seasonally adjusted annual rate of $2,148.4 billion, 0.3% (±1.0%) below the revised May estimate of $2,154.8 billion. The June figure is 6.2% (±1.6%) above the June 2023 estimate of $2,023.0 billion. During the first six months of this year, construction spending amounted to $1,034.8 billion,…
Read MoreConstruction Spending Ticks Down in July; Highways Down
According to the U.S. Census Bureau, construction spending during July 2024 was estimated at a seasonally adjusted annual rate of $2,162.7 billion, 0.3% (±1.0%) below the revised June estimate of $2,169.0 billion. The July figure is 6.7% (±1.8%) above the July 2023 estimate of $2,027.4 billion. During the first seven months of this year, construction spending amounted to $1,237.5 billion,…
Read MoreMay 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,…
Read MoreConstruction Spending Down in April; Highways Lower
According to the U.S. Census Bureau, construction spending during April 2024 was estimated at a seasonally adjusted annual rate of $2,099.0 billion, 0.1% (±1.0%) below the revised March estimate of $2,101.5 billion. The April figure is 10.0% (±1.5%) above the April 2023 estimate of $1,907.8 billion. During the first four months of this year, construction spending amounted to $635.5 billion,…
Read MoreInterest Rates, Demand Push Single-Family Starts Higher
Pent-up demand, moderating interest rates and a lack of existing inventory helped push single-family starts in February to their highest level since April 2022. Overall housing starts increased 10.7% in February to a seasonally adjusted annual rate of 1.52 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The…
Read MoreNew Home Sales Bounce Back in December on Lower Mortgage Rates
Falling interest rates in the closing weeks of 2023 helped to bring buyers off the sidelines and provide a boost for new home sales. Sales of newly built, single-family homes in December increased 8.0% to a 664,000 seasonally adjusted annual rate from an upwardly revised reading in November, according to newly released data by the U.S. Department of Housing and…
Read MoreLack of Resales Boost New Home Sales in September
Sales of newly built, single-family homes in September increased 12.3% to a 759,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales in September was up 33.9% from a year ago.It takes 400 tons of aggregates to construct the average…
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