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U.S. construction spending dropped in October
Construction Spending
Outlays for U.S. construction projects fell after recent increases, as decline in private spending offset an increase in public spending.
In October construction spending decreased by -1.5 % on the seasonally adjusted basis to annual rate at $1308.8 billion. Since construction outlays are one of the important sources of domestic growth, declining construction spending is generally a negative sign.
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Outlays rose by 5.4 % in the past 12 months, as the private construction outlays grew less than total construction.
Spending on private construction projects deteriorated smaller than total construction outlays by -3.1 % on the seasonally adjusted basis.
Investors usually view the private construction spending as a better gauge of economic cycle, because it excludes public stimulus spending.
Private construction outlays grew by 4.1 % over the past 12 months.
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| Public Construction Spending
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Outlays for public construction projects grew despite the decrease in total construction outlays, by 0.3 % on the seasonally adjusted basis, amusement, recreation, transportation, commercial buildings projects grew above average nonresidential construction. Construction outlays for power and utilities projects declined.
Government spending is subject to state and local budgets and often it does not reflect current economic contidions.
The construction of public projects jumped by 6.4 % for the year.
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Construction Spending Seasonally Adjusted
( in millions $) Annual Rate |
Oct. 2018
Prel. |
Sep. 2018
Prel. |
Aug. 2018
Prel. |
July 2018
Prel. |
June 2018
Prel. |
May 2018
Rest. |
| Total Construction |
|
1,308,848 |
1,329,452 |
1,318,485 |
1,317,434 |
1,314,788 |
1,332,177 |
| Residential |
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545,066 |
562,322 |
555,751 |
559,743 |
558,134 |
577,692 |
| Nonresidential |
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763,782 |
767,131 |
762,734 |
757,692 |
756,654 |
754,485 |
| Lodging |
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34,335 |
33,290 |
31,764 |
31,101 |
31,573 |
31,820 |
| Office |
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76,024 |
73,322 |
73,886 |
72,525 |
72,518 |
72,674 |
| Commercial |
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88,686 |
91,665 |
91,302 |
92,219 |
92,985 |
92,761 |
| Health care |
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42,400 |
42,556 |
41,962 |
41,528 |
41,913 |
42,473 |
| Educational |
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98,891 |
96,474 |
92,630 |
92,023 |
91,303 |
96,873 |
| Religious |
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2,960 |
2,897 |
2,835 |
2,861 |
2,844 |
3,153 |
| Public safety |
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9,547 |
9,537 |
9,788 |
9,721 |
9,437 |
9,291 |
| Amusement & recreation |
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27,877 |
27,996 |
27,299 |
26,588 |
26,587 |
25,246 |
| Transportation |
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53,458 |
53,668 |
54,033 |
54,052 |
52,848 |
51,133 |
| Power |
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99,357 |
101,564 |
100,838 |
102,133 |
103,148 |
104,419 |
| Highway & street |
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94,790 |
95,323 |
99,206 |
97,576 |
95,934 |
95,325 |
| Sewage & waste disposal |
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22,222 |
22,253 |
22,852 |
22,467 |
22,536 |
22,367 |
| Water supply |
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14,165 |
14,817 |
15,937 |
15,252 |
15,377 |
14,282 |
| Conservation & development |
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8,105 |
9,479 |
9,636 |
9,049 |
8,484 |
7,915 |
| Manufacturing |
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67,102 |
68,199 |
63,872 |
64,137 |
64,722 |
59,994 |
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| Total Private Construction
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538,958 |
556,424 |
548,892 |
553,020 |
551,668 |
570,919 |
| Residential |
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538,958 |
556,424 |
548,892 |
553,020 |
551,668 |
570,919 |
| New single family |
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282,611 |
283,238 |
284,920 |
286,829 |
288,162 |
288,573 |
| New multi-family |
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62,035 |
64,228 |
58,551 |
59,564 |
59,351 |
61,612 |
| Nonresidential |
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459,733 |
463,934 |
452,858 |
453,888 |
457,756 |
453,007 |
| Lodging |
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32,947 |
31,994 |
30,238 |
30,108 |
30,702 |
30,654 |
| Office |
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66,436 |
64,261 |
63,498 |
63,004 |
62,728 |
62,979 |
| Commercial |
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84,714 |
88,122 |
87,901 |
88,684 |
89,395 |
89,540 |
| Health care |
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32,885 |
33,307 |
31,811 |
31,495 |
32,443 |
32,899 |
| Educational |
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21,989 |
21,909 |
20,292 |
20,371 |
20,904 |
20,596 |
| Religious |
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2,944 |
2,897 |
2,835 |
2,861 |
2,844 |
3,153 |
| Amusement & recreation |
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15,006 |
15,333 |
14,959 |
14,687 |
14,687 |
14,068 |
| Transportation |
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17,542 |
17,929 |
17,891 |
17,660 |
17,486 |
16,782 |
| Communication |
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23,650 |
23,817 |
24,560 |
24,396 |
24,376 |
24,690 |
| Power |
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93,639 |
95,526 |
94,604 |
95,855 |
97,134 |
97,427 |
| Manufacturing |
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66,768 |
67,774 |
63,279 |
63,734 |
64,168 |
59,499 |
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| Total Public Construction |
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310,156 |
309,094 |
316,736 |
310,525 |
305,364 |
308,251 |
| Residential |
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6,108 |
5,897 |
6,859 |
6,722 |
6,466 |
6,773 |
| Nonresidential |
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304,049 |
303,197 |
309,877 |
303,803 |
298,898 |
301,479 |
| Office |
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9,588 |
9,060 |
10,389 |
9,521 |
9,790 |
9,695 |
| Commercial |
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3,972 |
3,543 |
3,401 |
3,535 |
3,590 |
3,221 |
| Health care |
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9,516 |
9,249 |
10,151 |
10,033 |
9,469 |
9,574 |
| Educational |
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76,902 |
74,565 |
72,337 |
71,652 |
70,400 |
76,276 |
| Public safety |
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9,416 |
9,391 |
9,643 |
9,545 |
9,287 |
9,202 |
| Amusement & recreation |
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12,871 |
12,664 |
12,340 |
11,901 |
11,900 |
11,179 |
| Transportation |
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35,916 |
35,739 |
36,142 |
36,393 |
35,361 |
34,351 |
| Power |
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5,718 |
6,038 |
6,234 |
6,279 |
6,014 |
6,992 |
| Highway & street |
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94,556 |
95,170 |
99,012 |
97,327 |
95,778 |
95,132 |
| Sewage & waste disposal |
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21,678 |
21,712 |
22,480 |
22,095 |
22,166 |
22,082 |
| Water supply |
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13,879 |
14,610 |
15,674 |
15,034 |
15,182 |
14,152 |
| Conservation & development |
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8,088 |
9,461 |
9,620 |
9,031 |
8,464 |
7,892 |
Construction Spending by Month and Category Year on Year Growth at Annual Rate
Construction Spending Seasonally
Adjusted
Annuall Rate ( Y/Y in % ) |
Oct. 2018
Prel. |
Sep. 2018
Prel. |
Aug. 2018
Prel. |
July 2018
Prel. |
June 2018
Prel. |
May 2018
Rest. |
| Total Construction |
5.42 % |
9.01 % |
8.43 % |
8.74 % |
7.2 % |
8.3 % |
| Residential |
4.04 % |
7.84 % |
6.6 % |
7.01 % |
6.6 % |
12 % |
| Nonresidential |
6.43 % |
9.89 % |
9.8 % |
10.06 % |
7.65 % |
5.62 % |
| Lodging |
13.77 % |
11.11 % |
7.01 % |
14.37 % |
12.79 % |
14.88 % |
| Office |
10.05 % |
9.12 % |
8.65 % |
3.7 % |
3.11 % |
0.7 % |
| Commercial |
5.27 % |
6.59 % |
5.01 % |
11.88 % |
5.38 % |
11.75 % |
| Health care |
1.12 % |
5.37 % |
3.61 % |
7.91 % |
6.03 % |
8.28 % |
Educational |
-1.56 % |
4.64 % |
5.86 % |
8.1 % |
1.8 % |
3.55 % |
| Religious |
-4.73 % |
-5.85 % |
-11.07 % |
-8.68 % |
-14.72 % |
-5.68 % |
| Public safety |
10.29 % |
17.87 % |
20.69 % |
21.71 % |
23.04 % |
12.75 % |
| Amusement & recreation |
19.65 % |
17.29 % |
16.17 % |
14.66 % |
14.35 % |
6.73 % |
Transportation |
14.24 % |
23.21 % |
28.55 % |
29.62 % |
25.26 % |
22 % |
| Power |
0.59 % |
2.4 % |
0.98 % |
2.15 % |
3.32 % |
3.89 % |
| Highway & street |
8.96 % |
12.78 % |
18.58 % |
14.8 % |
12.34 % |
5.01 % |
| Sewage & waste disposal |
14.25 % |
15.34 % |
17.94 % |
19.47 % |
19.64 % |
15.34 % |
Water supply |
19.6 % |
28.75 % |
36.99 % |
39.63 % |
33.6 % |
21.2 % |
| Conservation & development |
-1.27 % |
28.18 % |
46.35 % |
39.09 % |
28.35 % |
9.6 % |
Manufacturing |
8.57 % |
15.56 % |
4.52 % |
-3.07 % |
-0.64 % |
-14.38 % |
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| Total Private Construction
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4.11 % |
7.96 % |
6.45 % |
6.87 % |
6.56 % |
12.03 % |
| Residential |
4.11 % |
7.96 % |
6.45 % |
6.87 % |
6.56 % |
12.03 % |
| Nonresidential |
6.36 % |
8.57 % |
5.17 % |
6.05 % |
4.5 % |
4.48 % |
| Lodging |
14.38 % |
12.39 % |
7 % |
12.25 % |
13.59 % |
12.33 % |
| Office |
11.68 % |
9.37 % |
6.86 % |
1.53 % |
0.81 % |
-1.18 % |
| Commercial |
4.51 % |
6.29 % |
5 % |
11.81 % |
4.99 % |
12.78 % |
| Health care |
2.7 % |
6.01 % |
3.24 % |
7.84 % |
6.95 % |
12.1 % |
| Educational |
2.26 % |
7.94 % |
5.85 % |
7.49 % |
3.76 % |
6.72 % |
| Religious |
-5.25 % |
-5.85 % |
-11.07 % |
-8.68 % |
-14.72 % |
-5.68 % |
| Amusement & recreation |
13.6 % |
12.42 % |
9.58 % |
12.69 % |
12.17 % |
10.1 % |
| Transportation |
5.5 % |
20.9 % |
21.96 % |
27.3 % |
24.55 % |
37.76 % |
| Communication |
4.36 % |
4.72 % |
7.75 % |
12.17 % |
5.26 % |
13.9 % |
| Power |
1.82 % |
3.29 % |
0.83 % |
2.37 % |
2.89 % |
3.14 % |
| Manufacturing |
9.1 % |
16.4 % |
4.76 % |
-2.82 % |
-0.15 % |
-14.28 % |
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| Total Public Construction |
6.37 % |
11.66 % |
17.4 % |
16.73 % |
12.81 % |
7.44 % |
| Residential |
-1.64 % |
-2.09 % |
19.72 % |
20.06 % |
10.49 % |
9.97 % |
| Nonresidential |
6.54 % |
11.97 % |
17.35 % |
16.66 % |
12.86 % |
7.39 % |
| Office |
-0.04 % |
7.33 % |
21.06 % |
20.81 % |
20.76 % |
14.94 % |
| Commercial |
24.48 % |
14.51 % |
5.16 % |
13.48 % |
16.11 % |
-10.9 % |
| Health care |
-3.98 % |
3.13 % |
4.8 % |
8.13 % |
2.99 % |
-3.06 % |
| Educational |
-2.6 % |
3.71 % |
5.86 % |
8.27 % |
1.23 % |
2.72 % |
Public safety |
10.32 % |
16.53 % |
19.46 % |
19.99 % |
22.05 % |
12.56 % |
| Amusement & recreation |
27.56 % |
23.78 % |
25.29 % |
17.18 % |
17.16 % |
2.77 % |
| Transportation |
19.07 % |
24.41 % |
32.08 % |
30.78 % |
25.6 % |
15.54 % |
| Power |
-16.02 % |
-9.92 % |
3.26 % |
-1.16 % |
10.78 % |
15.61 % |
Highway & street |
8.91 % |
12.88 % |
18.73 % |
14.78 % |
12.53 % |
4.99 % |
| Sewage & waste disposal |
12.07 % |
13.11 % |
16.94 % |
18.17 % |
18.64 % |
14.94 % |
| Water supply |
19.15 % |
28.23 % |
36.97 % |
41.26 % |
35.72 % |
22.49 % |
Conservation & development |
-1.39 % |
28.18 % |
46.74 % |
39.22 % |
28.48 % |
9.66 % |
Construction Spending by Month and Category Month on Month Growth at Annual Rate
Construction Spending Seasonally
Adjusted
Annuall Rate ( M/M in % ) |
Oct. 2018
Prel. |
Sep. 2018
Prel. |
Aug. 2018
Prel. |
July 2018
Prel. |
June 2018
Prel. |
May 2018
Rest. |
| Total Construction |
-1.55 % |
0.83 % |
0.08 % |
0.2 % |
-1.31 % |
1.66 % |
| Residential |
-3.07 % |
1.18 % |
-0.71 % |
0.29 % |
-3.39 % |
2.53 % |
| Nonresidential |
-0.44 % |
0.58 % |
0.67 % |
0.14 % |
0.29 % |
1.01 % |
| Lodging |
3.14 % |
4.8 % |
2.13 % |
-1.49 % |
-0.78 % |
-1.81 % |
| Office |
3.69 % |
-0.76 % |
1.88 % |
0.01 % |
-0.21 % |
-2.92 % |
| Commercial |
-3.25 % |
0.4 % |
-0.99 % |
-0.82 % |
0.24 % |
2.06 % |
| Health care |
-0.37 % |
1.42 % |
1.05 % |
-0.92 % |
-1.32 % |
2.22 % |
Educational |
2.51 % |
4.15 % |
0.66 % |
0.79 % |
-5.75 % |
0.79 % |
| Religious |
2.17 % |
2.19 % |
-0.91 % |
0.6 % |
-9.8 % |
-8.64 % |
| Public safety |
0.1 % |
-2.56 % |
0.69 % |
3.01 % |
1.57 % |
0.04 % |
| Amusement & recreation |
-0.43 % |
2.55 % |
2.67 % |
0 % |
5.31 % |
-1.56 % |
Transportation |
-0.39 % |
-0.68 % |
-0.04 % |
2.28 % |
3.35 % |
-1.32 % |
| Power |
-2.17 % |
0.72 % |
-1.27 % |
-0.98 % |
-1.22 % |
6.31 % |
| Highway & street |
-0.56 % |
-3.91 % |
1.67 % |
1.71 % |
0.64 % |
8.13 % |
| Sewage & waste disposal |
-0.14 % |
-2.62 % |
1.71 % |
-0.31 % |
0.76 % |
7.82 % |
Water supply |
-4.4 % |
-7.03 % |
4.49 % |
-0.81 % |
7.67 % |
16.94 % |
| Conservation & development |
-14.5 % |
-1.63 % |
6.49 % |
6.66 % |
7.19 % |
-7.8 % |
Manufacturing |
-1.61 % |
6.77 % |
-0.41 % |
-0.9 % |
7.88 % |
-10.16 % |
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| Total Private Construction
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-3.14 % |
1.37 % |
-0.75 % |
0.25 % |
-3.37 % |
2.63 % |
| Residential |
-3.14 % |
1.37 % |
-0.75 % |
0.25 % |
-3.37 % |
2.63 % |
| New single family |
-0.22 % |
-0.59 % |
-0.67 % |
-0.46 % |
-0.14 % |
1 % |
| New multi-family |
-3.41 % |
9.7 % |
-1.7 % |
0.36 % |
-3.67 % |
-0.55 % |
| Nonresidential |
-0.91 % |
2.45 % |
-0.23 % |
-0.84 % |
1.05 % |
-1.09 % |
| Lodging |
2.98 % |
5.81 % |
0.43 % |
-1.93 % |
0.16 % |
-1.43 % |
| Office |
3.38 % |
1.2 % |
0.78 % |
0.44 % |
-0.4 % |
-3.11 % |
| Commercial |
-3.87 % |
0.25 % |
-0.88 % |
-0.8 % |
-0.16 % |
2.82 % |
| Health care |
-1.27 % |
4.7 % |
1 % |
-2.92 % |
-1.39 % |
3.3 % |
| Educational |
0.37 % |
7.97 % |
-0.39 % |
-2.55 % |
1.5 % |
-6.05 % |
| Religious |
1.62 % |
2.19 % |
-0.91 % |
0.6 % |
-9.8 % |
-8.64 % |
| Amusement & recreation |
-2.13 % |
2.5 % |
1.85 % |
0 % |
4.4 % |
-1.79 % |
| Transportation |
-2.16 % |
0.21 % |
1.31 % |
1 % |
4.19 % |
-7.32 % |
| Communication |
-0.7 % |
-3.03 % |
0.67 % |
0.08 % |
-1.27 % |
-5.52 % |
| Power |
-1.98 % |
0.97 % |
-1.31 % |
-1.32 % |
-0.3 % |
5.79 % |
| Manufacturing |
-1.48 % |
7.1 % |
-0.71 % |
-0.68 % |
7.85 % |
-10.23 % |
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| Total Public Construction |
0.34 % |
-2.41 % |
2 % |
1.69 % |
-0.94 % |
4.1 % |
| Residential |
3.58 % |
-14.03 % |
2.04 % |
3.96 % |
-4.53 % |
-5.07 % |
| Nonresidential |
0.28 % |
-2.16 % |
2 % |
1.64 % |
-0.86 % |
4.32 % |
| Office |
5.83 % |
-12.79 % |
9.12 % |
-2.75 % |
0.98 % |
-1.61 % |
| Commercial |
12.11 % |
4.18 % |
-3.79 % |
-1.53 % |
11.46 % |
-15.3 % |
| Health care |
2.89 % |
-8.89 % |
1.18 % |
5.96 % |
-1.1 % |
-1.31 % |
| Educational |
3.13 % |
3.08 % |
0.96 % |
1.78 % |
-7.7 % |
2.81 % |
Public safety |
0.27 % |
-2.61 % |
1.03 % |
2.78 % |
0.92 % |
0.43 % |
| Amusement & recreation |
1.63 % |
2.63 % |
3.69 % |
0.01 % |
6.45 % |
-1.26 % |
| Transportation |
0.5 % |
-1.12 % |
-0.69 % |
2.92 % |
2.94 % |
1.9 % |
| Power |
-5.3 % |
-3.14 % |
-0.72 % |
4.41 % |
-13.99 % |
14.19 % |
Highway & street |
-0.65 % |
-3.88 % |
1.73 % |
1.62 % |
0.68 % |
8.16 % |
| Sewage & waste disposal |
-0.16 % |
-3.42 % |
1.74 % |
-0.32 % |
0.38 % |
7.11 % |
| Water supply |
-5 % |
-6.79 % |
4.26 % |
-0.97 % |
7.28 % |
17.41 % |
Conservation & development |
-14.51 % |
-1.65 % |
6.52 % |
6.7 % |
7.25 % |
-7.7 % |
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