In March 2022 growth in construction spending slows
Construction Spending
Modified 2022-05-05T05:19:51-04:00
Goran Soko / CSIMarket.com Contributer
Outlays for U.S. construction projects continue to grow but on the slower pace, mainly because of shrinking construction spending for amusement and recreation projects by -2.1 %.
The Commerce Department announced outlays for U.S. construction projects increased a slim 0.1 % in March 2022 on the seasonally adjusted basis the highest annual rate of $1730.5 billion. Growth of residential construction in the last month, shows that more Americans are able to afford to buy own home.
Construction spending is closely watched by investors and economists for signs of whether the economy is growing or shrinking.
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From the same month a year ago, construction spending jumped by 14.4 % as the public construction outlays increased on the slower rate than total construction spending.
Outlays for private construction increased by 1 % 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 21.6 %.
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| Public Construction Spending
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February 2022 outlays for U.S. construction projects were revised to $1728.6 billion to show 3.1 % growth.
Outlays for public construction projects fell despite the increase in total construction spending, by -0.2 % on the seasonally adjusted basis, led by decline in nonresidential outlays for amusement, recreation and commercial buildings projects.
The monthly construction data are highly volatile.
The construction of public projects increased by 2 % from March 2021.
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Construction Spending Seasonally Adjusted
( in millions $) Annual Rate |
March 2022
Prel. |
Feb. 2022
Rest. |
Jan. 2022
Prel. |
Dec. 2021
Rest. |
Nov. 2021
Prel. |
| Total Construction |
|
1,730,469 |
1,728,565 |
1,677,246 |
1,655,847 |
1,643,024 |
| Residential |
|
891,280 |
882,414 |
838,351 |
827,621 |
810,487 |
| Nonresidential |
|
839,189 |
846,151 |
838,895 |
828,226 |
832,536 |
| Lodging |
|
16,997 |
16,920 |
18,000 |
18,115 |
17,569 |
| Office |
|
84,579 |
84,723 |
84,666 |
84,404 |
83,894 |
| Commercial |
|
98,307 |
100,177 |
98,176 |
98,537 |
98,473 |
| Health care |
|
50,369 |
50,982 |
51,179 |
50,821 |
51,367 |
| Educational |
|
98,544 |
99,478 |
98,398 |
98,471 |
99,010 |
| Religious |
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2,761 |
2,865 |
2,888 |
2,988 |
3,081 |
| Public safety |
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10,602 |
10,438 |
10,201 |
10,048 |
10,572 |
| Amusement & recreation |
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25,769 |
26,328 |
26,043 |
26,008 |
26,007 |
| Transportation |
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56,383 |
56,564 |
56,877 |
56,004 |
56,932 |
| Power |
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117,555 |
118,769 |
117,000 |
114,474 |
114,641 |
| Highway & street |
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103,908 |
104,355 |
106,129 |
106,302 |
104,791 |
| Sewage & waste disposal |
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29,145 |
28,918 |
27,443 |
27,207 |
27,778 |
| Water supply |
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19,388 |
19,613 |
18,496 |
18,995 |
19,041 |
| Conservation & development |
|
8,599 |
8,205 |
8,368 |
7,758 |
7,715 |
| Manufacturing |
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94,491 |
96,057 |
93,224 |
86,039 |
89,513 |
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| Total Private Construction
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882,045 |
873,222 |
829,377 |
818,957 |
801,584 |
| Residential |
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882,045 |
873,222 |
829,377 |
818,957 |
801,584 |
| New single family |
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472,755 |
466,730 |
445,085 |
439,644 |
427,572 |
| New multi-family |
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101,116 |
101,632 |
101,471 |
101,524 |
100,156 |
| Nonresidential |
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497,609 |
503,649 |
497,170 |
488,190 |
489,225 |
| Lodging |
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16,654 |
16,584 |
17,641 |
17,761 |
17,197 |
| Office |
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72,638 |
72,645 |
72,520 |
72,602 |
71,974 |
| Commercial |
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94,806 |
96,655 |
94,739 |
95,213 |
94,949 |
| Health care |
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39,037 |
39,789 |
39,852 |
40,124 |
40,237 |
| Educational |
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18,196 |
18,469 |
17,456 |
17,509 |
16,999 |
| Religious |
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2,761 |
2,865 |
2,885 |
2,986 |
3,076 |
| Amusement & recreation |
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12,557 |
12,797 |
12,493 |
12,598 |
12,352 |
| Transportation |
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15,554 |
15,540 |
15,523 |
15,295 |
15,175 |
| Communication |
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21,689 |
21,669 |
21,738 |
21,808 |
21,904 |
| Power |
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107,728 |
109,035 |
107,454 |
104,669 |
104,494 |
| Manufacturing |
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94,107 |
95,640 |
92,864 |
85,590 |
89,059 |
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| Total Public Construction |
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350,816 |
351,694 |
350,699 |
348,700 |
352,214 |
| Residential |
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9,236 |
9,192 |
8,974 |
8,664 |
8,903 |
| Nonresidential |
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341,580 |
342,501 |
341,726 |
340,036 |
343,311 |
| Office |
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11,942 |
12,078 |
12,146 |
11,802 |
11,920 |
| Commercial |
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3,502 |
3,522 |
3,437 |
3,324 |
3,524 |
| Health care |
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11,332 |
11,193 |
11,327 |
10,697 |
11,130 |
| Educational |
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80,348 |
81,009 |
80,943 |
80,963 |
82,012 |
| Public safety |
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10,522 |
10,364 |
10,129 |
9,943 |
10,460 |
| Amusement & recreation |
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13,213 |
13,531 |
13,550 |
13,410 |
13,655 |
| Transportation |
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40,829 |
41,024 |
41,354 |
40,708 |
41,758 |
| Power |
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9,827 |
9,734 |
9,546 |
9,805 |
10,146 |
| Highway & street |
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103,138 |
103,530 |
105,345 |
105,470 |
104,193 |
| Sewage & waste disposal |
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28,722 |
28,484 |
26,984 |
26,812 |
27,383 |
| Water supply |
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18,824 |
19,027 |
17,877 |
18,388 |
18,458 |
| Conservation & development |
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8,553 |
8,164 |
8,300 |
7,662 |
7,593 |
Construction Spending by Month and Category Year on Year Growth at Annual Rate
Construction Spending Seasonally
Adjusted
Annuall Rate ( Y/Y in % ) |
March 2022
Prel. |
Feb. 2022
Rest. |
Jan. 2022
Prel. |
Dec. 2021
Rest. |
Nov. 2021
Prel. |
| Total Construction |
14.37 % |
13.95 % |
10.24 % |
11.1 % |
12.58 % |
| Residential |
21.33 % |
21.31 % |
16.05 % |
18.2 % |
21.51 % |
| Nonresidential |
7.79 % |
7.17 % |
4.98 % |
4.81 % |
5.06 % |
| Lodging |
-26.34 % |
-29.78 % |
-27.73 % |
-25.35 % |
-26.95 % |
| Office |
6.26 % |
7.06 % |
6.48 % |
6.18 % |
4.81 % |
| Commercial |
27.66 % |
28.1 % |
25.29 % |
21.55 % |
20.11 % |
| Health care |
10.64 % |
13.37 % |
10.85 % |
12.12 % |
9.67 % |
Educational |
-2.03 % |
-3.02 % |
-7.34 % |
-7.47 % |
-3.9 % |
| Religious |
-13.23 % |
-5.38 % |
-7.17 % |
-5.02 % |
-3.2 % |
| Public safety |
-25.7 % |
-37.74 % |
-37.21 % |
-33.57 % |
-31.4 % |
| Amusement & recreation |
6.35 % |
7.31 % |
3.86 % |
3.72 % |
2.05 % |
Transportation |
1.17 % |
0.84 % |
0.52 % |
-2.46 % |
0.3 % |
| Power |
3.27 % |
3.6 % |
2.47 % |
-0.6 % |
0.26 % |
| Highway & street |
4.85 % |
1.72 % |
-1.83 % |
7.76 % |
7.18 % |
| Sewage & waste disposal |
11.34 % |
9.8 % |
3.54 % |
1.08 % |
6.68 % |
Water supply |
12.9 % |
8.07 % |
0.69 % |
3.15 % |
5.97 % |
| Conservation & development |
16.42 % |
10.74 % |
9.96 % |
-0.82 % |
0.19 % |
Manufacturing |
36.2 % |
39.41 % |
41.63 % |
34.55 % |
28.18 % |
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| Total Private Construction
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21.62 % |
21.63 % |
16.33 % |
18.52 % |
21.81 % |
| Residential |
21.62 % |
21.63 % |
16.33 % |
18.52 % |
21.81 % |
| New single family |
21.24 % |
23.87 % |
18.32 % |
20.44 % |
25.2 % |
| New multi-family |
8.2 % |
9.1 % |
9.46 % |
11.11 % |
11.25 % |
| Nonresidential |
12.09 % |
12.47 % |
11.22 % |
9.32 % |
7.82 % |
| Lodging |
-25.08 % |
-28.33 % |
-26.42 % |
-23.85 % |
-25.35 % |
| Office |
6.27 % |
6.14 % |
5.51 % |
5.2 % |
3.92 % |
| Commercial |
28.61 % |
29.07 % |
26.83 % |
23.65 % |
21.19 % |
| Health care |
8.92 % |
11.98 % |
8.97 % |
12.26 % |
8.66 % |
| Educational |
19.11 % |
17.98 % |
7.11 % |
8.19 % |
4.29 % |
| Religious |
-12.82 % |
-5.29 % |
-7.18 % |
-4.66 % |
-3.15 % |
| Amusement & recreation |
17.62 % |
16.58 % |
10.72 % |
10.64 % |
7.01 % |
| Transportation |
3.54 % |
-2.56 % |
-1.25 % |
-2.19 % |
1.42 % |
| Communication |
-2.32 % |
-1.63 % |
-1.94 % |
0 % |
0.26 % |
| Power |
0.68 % |
0.93 % |
-0.11 % |
-3.56 % |
-2.89 % |
| Manufacturing |
36.08 % |
39.31 % |
41.56 % |
34.52 % |
28.07 % |
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| Total Public Construction |
2.02 % |
0.14 % |
-2.98 % |
-1.17 % |
1.33 % |
| Residential |
-0.93 % |
-3.32 % |
-4.83 % |
-5.54 % |
-0.01 % |
| Nonresidential |
2.1 % |
0.24 % |
-2.93 % |
-1.05 % |
1.36 % |
| Office |
6.15 % |
12.92 % |
12.65 % |
12.67 % |
10.49 % |
| Commercial |
6.44 % |
6.28 % |
-6.2 % |
-18.25 % |
-3.29 % |
| Health care |
16.99 % |
18.61 % |
18 % |
11.6 % |
13.48 % |
| Educational |
-5.82 % |
-6.81 % |
-9.95 % |
-10.27 % |
-5.44 % |
Public safety |
-25.76 % |
-37.72 % |
-37.29 % |
-33.8 % |
-31.71 % |
| Amusement & recreation |
-2.52 % |
-0.2 % |
-1.75 % |
-2.03 % |
-2.06 % |
| Transportation |
0.29 % |
2.19 % |
1.2 % |
-2.57 % |
-0.1 % |
| Power |
43.92 % |
47.19 % |
44.37 % |
47.87 % |
50.42 % |
Highway & street |
4.37 % |
1.19 % |
-2.28 % |
7.17 % |
6.82 % |
| Sewage & waste disposal |
11.33 % |
9.5 % |
2.92 % |
0.68 % |
6.16 % |
| Water supply |
13.19 % |
8.69 % |
0.4 % |
2.6 % |
5.67 % |
Conservation & development |
15.91 % |
11.94 % |
9.9 % |
-1.36 % |
-0.73 % |
Construction Spending by Month and Category Month on Month Growth at Annual Rate
Construction Spending Seasonally
Adjusted
Annuall Rate ( M/M in % ) |
March 2022
Prel. |
Feb. 2022
Rest. |
Jan. 2022
Prel. |
Dec. 2021
Rest. |
Nov. 2021
Prel. |
| Total Construction |
0.11 % |
3.06 % |
1.29 % |
0.78 % |
2.82 % |
| Residential |
1 % |
5.26 % |
1.3 % |
2.11 % |
3.4 % |
| Nonresidential |
-0.82 % |
0.86 % |
1.29 % |
-0.52 % |
2.26 % |
| Lodging |
0.46 % |
-6 % |
-0.63 % |
3.11 % |
-1.52 % |
| Office |
-0.17 % |
0.07 % |
0.31 % |
0.61 % |
0.32 % |
| Commercial |
-1.87 % |
2.04 % |
-0.37 % |
0.06 % |
5.37 % |
| Health care |
-1.2 % |
-0.38 % |
0.7 % |
-1.06 % |
1.95 % |
Educational |
-0.94 % |
1.1 % |
-0.07 % |
-0.54 % |
0.61 % |
| Religious |
-3.63 % |
-0.8 % |
-3.35 % |
-3.02 % |
2.05 % |
| Public safety |
1.57 % |
2.32 % |
1.52 % |
-4.96 % |
-6.96 % |
| Amusement & recreation |
-2.12 % |
1.09 % |
0.13 % |
0 % |
-0.28 % |
Transportation |
-0.32 % |
-0.55 % |
1.56 % |
-1.63 % |
-0.41 % |
| Power |
-1.02 % |
1.51 % |
2.21 % |
-0.15 % |
1.76 % |
| Highway & street |
-0.43 % |
-1.67 % |
-0.16 % |
1.44 % |
1.85 % |
| Sewage & waste disposal |
0.78 % |
5.37 % |
0.87 % |
-2.06 % |
-2.69 % |
Water supply |
-1.15 % |
6.04 % |
-2.63 % |
-0.24 % |
-1.83 % |
| Conservation & development |
4.8 % |
-1.95 % |
7.86 % |
0.56 % |
-3.93 % |
Manufacturing |
-1.63 % |
3.04 % |
8.35 % |
-3.88 % |
12.7 % |
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| Total Private Construction
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1.01 % |
5.29 % |
1.27 % |
2.17 % |
3.47 % |
| Residential |
1.01 % |
5.29 % |
1.27 % |
2.17 % |
3.47 % |
| New single family |
1.29 % |
4.86 % |
1.24 % |
2.82 % |
3.76 % |
| New multi-family |
-0.51 % |
0.16 % |
-0.05 % |
1.37 % |
0.04 % |
| Nonresidential |
-1.2 % |
1.3 % |
1.84 % |
-0.21 % |
4.03 % |
| Lodging |
0.42 % |
-5.99 % |
-0.68 % |
3.28 % |
-1.64 % |
| Office |
-0.01 % |
0.17 % |
-0.11 % |
0.87 % |
0.25 % |
| Commercial |
-1.91 % |
2.02 % |
-0.5 % |
0.28 % |
5.71 % |
| Health care |
-1.89 % |
-0.16 % |
-0.68 % |
-0.28 % |
2.92 % |
| Educational |
-1.48 % |
5.8 % |
-0.3 % |
3 % |
4.9 % |
| Religious |
-3.63 % |
-0.69 % |
-3.38 % |
-2.93 % |
2.06 % |
| Amusement & recreation |
-1.88 % |
2.43 % |
-0.83 % |
1.99 % |
-3.18 % |
| Transportation |
0.09 % |
0.11 % |
1.49 % |
0.79 % |
2.7 % |
| Communication |
0.09 % |
-0.32 % |
-0.32 % |
-0.44 % |
0.56 % |
| Power |
-1.2 % |
1.47 % |
2.66 % |
0.17 % |
1.61 % |
| Manufacturing |
-1.6 % |
2.99 % |
8.5 % |
-3.9 % |
12.87 % |
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| Total Public Construction |
-0.25 % |
0.28 % |
0.57 % |
-1 % |
-0.24 % |
| Residential |
0.48 % |
2.43 % |
3.58 % |
-2.68 % |
-2.84 % |
| Nonresidential |
-0.27 % |
0.23 % |
0.5 % |
-0.95 % |
-0.17 % |
| Office |
-1.13 % |
-0.56 % |
2.91 % |
-0.99 % |
0.73 % |
| Commercial |
-0.57 % |
2.47 % |
3.4 % |
-5.68 % |
-3.03 % |
| Health care |
1.24 % |
-1.18 % |
5.89 % |
-3.89 % |
-1.41 % |
| Educational |
-0.82 % |
0.08 % |
-0.02 % |
-1.28 % |
-0.23 % |
Public safety |
1.52 % |
2.32 % |
1.87 % |
-4.94 % |
-7.02 % |
| Amusement & recreation |
-2.35 % |
-0.14 % |
1.04 % |
-1.79 % |
2.49 % |
| Transportation |
-0.48 % |
-0.8 % |
1.59 % |
-2.51 % |
-1.5 % |
| Power |
0.96 % |
1.97 % |
-2.64 % |
-3.36 % |
3.34 % |
Highway & street |
-0.38 % |
-1.72 % |
-0.12 % |
1.23 % |
1.65 % |
| Sewage & waste disposal |
0.84 % |
5.56 % |
0.64 % |
-2.09 % |
-2.17 % |
| Water supply |
-1.07 % |
6.43 % |
-2.78 % |
-0.38 % |
-1.36 % |
Conservation & development |
4.76 % |
-1.64 % |
8.33 % |
0.91 % |
-4.53 % |
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