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U.S. construction spending dropped in February

Construction Spending



Outlays for U.S. construction projects fell after recent increases, pulled down by falling construction outlays for highways and streets by -5.1 %.
In February outlays for U.S. construction projects fell by -0.3 % on the seasonally adjusted basis. Since construction outlays are one of the important sources of domestic growth, declining construction spending is generally a negative sign.

Construction Spending (Picture Autor: Badseed) licence GNU


From the same month a year ago, construction spending jumped by 11 % led by increase in residential construction by 27.3 %.
Outlays for private construction increased by 0.7 % despite the decrease in total construction outlays, on the seasonally adjusted basis.
Growth in the private construction spending is generally viewed as a good news, as increasing private investments show optimism in private sector about future economic prospects.
From the same month a year ago, private construction outlays jumped by 27.2 %.
  M/M Y/Y
  Commercial -0.20% -11.14%
  Office -0.48% -0.70%
  Transportation -0.87% 0.25 %
  Power 0.40% 8.11 %
  Manufacturing 4.68% -5.84%
  Lodging -3.26% -20.02%



     
Public Construction Spending

Public construction projects spending fell by -2.8 % faster than total construction outlays on the seasonally adjusted basis.
Growth in the private construction spending is generally viewed as a good news, as increasing private investments show optimism in private sector about future economic prospects.
Outlays for public construction projects advanced by 3 % for the year.




Construction Spending Seasonally Adjusted
( in millions $) Annual Rate
Feb. 2021

Prel.
Jan. 2021

Prel.
Dec. 2020

Prel.
Nov. 2020

Prel.
Oct. 2020

Rest.
Total Construction
1,516,927 1,521,454 1,490,387 1,459,440 1,446,877
Residential
727,420 722,379 700,173 666,990 649,813
Nonresidential
789,507 799,074 790,215 792,450 797,065
Lodging
24,096 24,908 24,268 24,050 26,218
Office
79,136 79,515 79,491 80,045 79,811
Commercial
78,201 78,361 81,069 81,989 82,485
Health care
44,970 46,171 45,326 46,838 47,553
Educational
102,580 106,188 106,418 103,033 102,732
Religious
3,028 3,111 3,146 3,183 3,143
Public safety
16,765 16,246 15,125 15,412 16,170
Amusement & recreation
24,535 25,074 25,074 25,485 26,001
Transportation
56,095 56,585 57,418 56,760 56,592
Power
114,639 114,181 115,167 114,348 115,411
Highway & street
102,594 108,108 98,647 97,769 96,052
Sewage & waste disposal
26,338 26,506 26,917 26,038 26,260
Water supply
18,149 18,369 18,415 17,969 18,400
Conservation & development
7,409 7,610 7,822 7,700 7,976
Manufacturing
68,904 65,822 63,948 69,833 69,782
             
Total Private Construction
717,912 712,951 691,000 658,086 640,954
Residential
717,912 712,951 691,000 658,086 640,954
New single family
376,794 376,178 365,032 341,506 324,882
New multi-family
93,156 92,699 91,369 90,024 90,007
Nonresidential
447,809 447,027 446,565 453,754 457,612
Lodging
23,140 23,974 23,324 23,036 25,076
Office
68,440 68,733 69,016 69,257 69,046
Commercial
74,888 74,696 77,003 78,345 78,609
Health care
35,533 36,571 35,741 37,030 37,542
Educational
15,654 16,298 16,184 16,300 16,280
Religious
3,025 3,108 3,132 3,176 3,142
Amusement & recreation
10,977 11,283 11,386 11,543 11,602
Transportation
15,949 15,720 15,638 14,962 14,888
Communication
22,029 22,168 21,807 21,848 22,328
Power
108,026 107,569 108,537 107,603 108,565
Manufacturing
68,655 65,599 63,624 69,542 69,475
             
Total Public Construction
351,206 361,476 352,822 347,600 348,311
Residential
9,508 9,429 9,172 8,904 8,859
Nonresidential
341,698 352,047 343,650 338,697 339,453
Office
10,696 10,782 10,475 10,788 10,765
Commercial
3,314 3,664 4,066 3,644 3,875
Health care
9,437 9,599 9,585 9,808 10,011
Educational
86,926 89,889 90,234 86,733 86,453
Public safety
16,641 16,153 15,019 15,318 16,072
Amusement & recreation
13,558 13,791 13,688 13,942 14,399
Transportation
40,146 40,865 41,780 41,798 41,704
Power
6,613 6,612 6,631 6,745 6,846
Highway & street
102,309 107,802 98,413 97,545 95,796
Sewage & waste disposal
26,013 26,219 26,631 25,795 25,988
Water supply
17,506 17,805 17,922 17,468 18,037
Conservation & development
7,293 7,552 7,768 7,649 7,905



Construction Spending by Month and Category Year on Year Growth at Annual Rate




Construction Spending Seasonally Adjusted
Annuall Rate ( Y/Y in % )
Feb. 2021
Prel.
Jan. 2021
Prel.
Dec. 2020
Prel.
Nov. 2020
Prel.
Oct. 2020
Rest.
Total Construction 10.99 % 9.89 % 10.77 % 8.71 % 9.88 %
Residential 27.26 % 25.64 % 27.07 % 22.87 % 21.82 %
Nonresidential -0.71 % -1.29 % -0.53 % -0.9 % 1.75 %
Lodging -20.02 % -20.33 % -23.72 % -25.75 % -20.87 %
Office -0.7 % -0.96 % -0.7 % -0.34 % -0.31 %
Commercial -11.14 % -13.96 % -6.88 % -6.76 % -1.89 %
Health care 4.62 % 4.57 % 2.4 % 5.68 % 8.84 %
Educational 6.35 % 8.41 % 8 % 3.15 % 0.29 %
Religious 2.02 % 2.03 % 7.89 % 1.5 % 8.19 %
Public safety 47.71 % 42.97 % 39.04 % 42.58 % 45.77 %
Amusement & recreation -8.33 % -8.39 % -8.34 % -8.68 % -3.84 %
Transportation 0.25 % 1.69 % 4.34 % 3.04 % 2.94 %
Power 8.11 % 6.97 % 11.15 % 11.25 % 17.34 %
Highway & street -0.18 % 3.96 % -0.25 % 2.29 % 1.43 %
Sewage & waste disposal -0.59 % -2.66 % 0.85 % -1.84 % -3.25 %
Water supply -1.84 % -2.89 % 2.2 % -1.56 % 4.38 %
Conservation & development -27.9 % -26.95 % -21.26 % -21.39 % -18.36 %
Manufacturing -5.84 % -13.83 % -15.48 % -14.25 % -4.75 %
           
Total Private Construction 27.22 % 25.62 % 27.12 % 22.83 % 21.77 %
Residential 27.22 % 25.62 % 27.12 % 22.83 % 21.77 %
New single family 20.89 % 25.43 % 26.04 % 21.21 % 17.09 %
New multi-family 59.85 % 59.28 % 59.55 % 53.47 % 52.29 %
Nonresidential -2.97 % -5.09 % -3.77 % -3.66 % 0.63 %
Lodging -20.03 % -20.2 % -23.79 % -25.75 % -21.43 %
Office 0.31 % 0.11 % 0.36 % 0.92 % 0.31 %
Commercial -10.91 % -13.91 % -7.15 % -6.84 % -1.14 %
Health care 2.66 % 2.92 % 1.41 % 5.03 % 7.5 %
Educational -7.83 % -5.55 % -8.06 % -10.32 % -11.76 %
Religious 1.92 % 1.94 % 7.41 % 1.28 % 8.16 %
Amusement & recreation -14.68 % -13.41 % -14.22 % -16.13 % -12.82 %
Transportation -0.95 % -2.26 % -4.17 % -7.36 % -8.88 %
Communication -6.07 % -6.12 % -7.64 % -6.54 % -2.91 %
Power 9.02 % 8.11 % 13.1 % 13.47 % 19.12 %
Manufacturing -5.86 % -13.8 % -15.65 % -14.23 % -4.74 %
           
Total Public Construction 3.03 % 4.49 % 4.44 % 3.53 % 3.76 %
Residential 30.59 % 27.42 % 23.11 % 25.87 % 25.39 %
Nonresidential 2.43 % 3.99 % 4.02 % 3.05 % 3.3 %
Office -6.72 % -7.26 % -7.1 % -7.73 % -4.1 %
Commercial -16.04 % -14.95 % -1.6 % -4.96 % -14.97 %
Health care 12.71 % 11.36 % 6.28 % 8.21 % 14.19 %
Educational 9.37 % 11.39 % 11.49 % 6.15 % 2.94 %
Public safety 48.2 % 43.84 % 39.91 % 43.56 % 46.59 %
Amusement & recreation -2.46 % -3.82 % -2.79 % -1.44 % 4.86 %
Transportation 0.73 % 3.3 % 7.93 % 7.35 % 7.94 %
Power -4.99 % -8.74 % -13.27 % -15.21 % -5.17 %
Highway & street -0.06 % 4.02 % -0.15 % 2.38 % 1.57 %
Sewage & waste disposal -0.57 % -2.02 % 1.86 % -0.65 % -2.15 %
Water supply -3.44 % -4.29 % 1.13 % -2.33 % 4.06 %
Conservation & development -28.51 % -26.96 % -21.14 % -21.1 % -18.43 %



Construction Spending by Month and Category Month on Month Growth at Annual Rate




Construction Spending Seasonally Adjusted
Annuall Rate ( M/M in % )
Feb. 2021
Prel.
Jan. 2021
Prel.
Dec. 2020
Prel.
Nov. 2020
Prel.
Oct. 2020
Rest.
Total Construction -0.3 % 2.08 % 2.12 % 0.87 % 2.32 %
Residential 0.7 % 3.17 % 4.98 % 2.64 % 4.85 %
Nonresidential -1.2 % 1.12 % -0.28 % -0.58 % 0.35 %
Lodging -3.26 % 2.64 % 0.91 % -8.27 % -6.01 %
Office -0.48 % 0.03 % -0.69 % 0.29 % -1.45 %
Commercial -0.2 % -3.34 % -1.12 % -0.6 % 1.42 %
Health care -2.6 % 1.86 % -3.23 % -1.5 % 1.05 %
Educational -3.4 % -0.22 % 3.29 % 0.29 % -0.04 %
Religious -2.67 % -1.11 % -1.16 % 1.27 % 2.78 %
Public safety 3.19 % 7.41 % -1.86 % -4.69 % 10.38 %
Amusement & recreation -2.15 % 0 % -1.61 % -1.98 % -1.5 %
Transportation -0.87 % -1.45 % 1.16 % 0.3 % -1.28 %
Power 0.4 % -0.86 % 0.72 % -0.92 % 0.28 %
Highway & street -5.1 % 9.59 % 0.9 % 1.79 % 7.27 %
Sewage & waste disposal -0.63 % -1.53 % 3.38 % -0.85 % -2.11 %
Water supply -1.2 % -0.25 % 2.48 % -2.34 % -2.54 %
Conservation & development -2.64 % -2.71 % 1.58 % -3.46 % 3.98 %
Manufacturing 4.68 % 2.93 % -8.43 % 0.07 % -3.49 %
           
Total Private Construction 0.7 % 3.18 % 5 % 2.67 % 4.92 %
Residential 0.7 % 3.18 % 5 % 2.67 % 4.92 %
New single family 0.16 % 3.05 % 6.89 % 5.12 % 6.23 %
New multi-family 0.49 % 1.46 % 1.49 % 0.02 % 2.13 %
Nonresidential 0.17 % 0.1 % -1.58 % -0.84 % -1.39 %
Lodging -3.48 % 2.79 % 1.25 % -8.14 % -6.47 %
Office -0.43 % -0.41 % -0.35 % 0.31 % -1.32 %
Commercial 0.26 % -3 % -1.71 % -0.34 % 1.37 %
Health care -2.84 % 2.32 % -3.48 % -1.36 % -0.36 %
Educational -3.95 % 0.7 % -0.71 % 0.12 % -6.56 %
Religious -2.67 % -0.77 % -1.39 % 1.08 % 2.92 %
Amusement & recreation -2.71 % -0.9 % -1.36 % -0.51 % -2.16 %
Transportation 1.46 % 0.52 % 4.52 % 0.5 % -4.91 %
Communication -0.63 % 1.66 % -0.19 % -2.15 % -0.12 %
Power 0.42 % -0.89 % 0.87 % -0.89 % -0.01 %
Manufacturing 4.66 % 3.1 % -8.51 % 0.1 % -3.4 %
           
Total Public Construction -2.84 % 2.45 % 1.5 % -0.2 % 2.72 %
Residential 0.84 % 2.8 % 3.01 % 0.51 % -0.35 %
Nonresidential -2.94 % 2.44 % 1.46 % -0.22 % 2.8 %
Office -0.8 % 2.93 % -2.9 % 0.21 % -2.26 %
Commercial -9.55 % -9.89 % 11.58 % -5.96 % 2.51 %
Health care -1.69 % 0.15 % -2.27 % -2.03 % 6.7 %
Educational -3.3 % -0.38 % 4.04 % 0.32 % 1.3 %
Public safety 3.02 % 7.55 % -1.95 % -4.69 % 10.35 %
Amusement & recreation -1.69 % 0.75 % -1.82 % -3.17 % -0.96 %
Transportation -1.76 % -2.19 % -0.04 % 0.23 % 0.08 %
Power 0.02 % -0.29 % -1.69 % -1.48 % 5.1 %
Highway & street -5.1 % 9.54 % 0.89 % 1.83 % 7.24 %
Sewage & waste disposal -0.79 % -1.55 % 3.24 % -0.74 % -2.15 %
Water supply -1.68 % -0.65 % 2.6 % -3.15 % -1.61 %
Conservation & development -3.43 % -2.78 % 1.56 % -3.24 % 4.25 %

Source U.S. Department of Commerce Picture Autor: (Badseed) licence GNU.


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