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In September growth in construction spending slows

Construction Spending



Outlays for U.S. construction projects continue to grow but on the slower pace, mainly because of falling construction outlays for highways and streets by -11.3 %.
The Commerce Department announced outlays for U.S. construction projects increased a slim 0.1 % in September on the seasonally adjusted basis the highest annual rate of $1414 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.

Construction Spending (Picture Autor: Badseed) licence GNU


From the same month a year ago, construction spending jumped by 9.3 % led by increase in residential construction by 19.7 %.
Spending on private construction projects jumped by 3.6 % on the seasonally adjusted basis.
Private residential spending is one of the major econmic indicators, represents now 43.83 % of total construction spending. Residential spending exerts a sizable influence because so many raw materials and finished goods are required to build homes and furnish them.
From the same month a year ago, private construction outlays jumped by 19.4 %.
  M/M Y/Y
  Commercial -0.18% -0.77%
  Office 0.64% 1.51 %
  Transportation -0.22% 3.17 %
  Power -2.48% 20.42 %
  Manufacturing -6.07% -0.27%
  Lodging -3.95% -16.12%



     
Public Construction Spending

Spending on public construction projects deteriorated despite the increase in total construction spending, by -3.5 % on the seasonally adjusted basis.
Private residential spending is one of the major econmic indicators, represents now 43.83 % of total construction spending. Residential spending exerts a sizable influence because so many raw materials and finished goods are required to build homes and furnish them.
Outlays for public construction projects advanced by 2.2 % for the year.




Construction Spending Seasonally Adjusted
( in millions $) Annual Rate
Sep. 2020

Prel.
Aug. 2020

Prel.
July 2020

Prel.
June 2020

Rest.
May 2020

Prel.
Total Construction
1,414,027 1,412,823 1,364,565 1,364,565 1,356,409
Residential
619,761 598,556 555,454 555,454 543,900
Nonresidential
794,266 814,267 809,111 809,111 812,509
Lodging
27,893 29,039 28,622 28,622 28,132
Office
80,985 80,469 81,279 81,279 80,771
Commercial
81,330 81,478 82,016 82,016 81,763
Health care
47,059 46,894 46,259 46,259 43,854
Educational
102,768 99,588 98,343 98,343 104,156
Religious
3,058 2,722 2,774 2,774 2,897
Public safety
14,649 15,329 16,225 16,225 14,029
Amusement & recreation
26,396 26,741 26,942 26,942 28,410
Transportation
57,325 57,454 57,615 57,615 57,255
Power
115,094 118,015 118,180 118,180 117,805
Highway & street
89,543 100,941 99,228 99,228 106,873
Sewage & waste disposal
26,826 27,199 27,620 27,620 25,890
Water supply
18,880 19,568 18,938 18,938 18,079
Conservation & development
7,671 8,795 9,279 9,279 8,194
Manufacturing
72,304 76,974 72,761 72,761 71,367
             
Total Private Construction
610,871 589,437 546,600 546,600 535,933
Residential
610,871 589,437 546,600 546,600 535,933
New single family
305,843 287,884 268,018 268,018 261,754
New multi-family
88,134 85,407 85,758 85,758 77,336
Nonresidential
464,054 471,994 466,860 466,860 465,275
Lodging
26,812 27,946 27,549 27,549 27,171
Office
69,971 69,242 69,507 69,507 69,680
Commercial
77,549 77,591 77,846 77,846 77,902
Health care
37,677 37,274 36,817 36,817 35,039
Educational
17,423 16,951 16,158 16,158 16,835
Religious
3,053 2,722 2,774 2,774 2,897
Amusement & recreation
11,858 12,091 12,215 12,215 14,104
Transportation
15,657 15,960 16,376 16,376 15,937
Communication
22,354 22,918 22,894 22,894 22,924
Power
108,580 111,190 110,982 110,982 110,712
Manufacturing
71,922 76,589 72,457 72,457 71,044
             
Total Public Construction
339,102 351,392 351,105 351,105 355,200
Residential
8,890 9,119 8,854 8,854 7,967
Nonresidential
330,212 342,273 342,251 342,251 347,233
Office
11,014 11,228 11,772 11,772 11,091
Commercial
3,780 3,887 4,170 4,170 3,861
Health care
9,382 9,620 9,442 9,442 8,815
Educational
85,345 82,637 82,185 82,185 87,321
Public safety
14,565 15,210 16,108 16,108 13,953
Amusement & recreation
14,538 14,650 14,727 14,727 14,306
Transportation
41,669 41,494 41,239 41,239 41,318
Power
6,514 6,825 7,199 7,199 7,092
Highway & street
89,330 100,584 98,964 98,964 106,551
Sewage & waste disposal
26,560 26,841 27,264 27,264 25,599
Water supply
18,332 18,940 18,437 18,437 17,781
Conservation & development
7,583 8,736 9,232 9,232 8,151



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




Construction Spending Seasonally Adjusted
Annuall Rate ( Y/Y in % )
Sep. 2020
Prel.
Aug. 2020
Prel.
July 2020
Prel.
June 2020
Rest.
May 2020
Prel.
Total Construction 9.31 % 9.77 % 5.88 % 6.03 % 4.06 %
Residential 19.65 % 16.21 % 8.32 % 8.22 % 5.43 %
Nonresidential 2.4 % 5.48 % 4.26 % 4.57 % 3.17 %
Lodging -16.12 % -13.74 % -17.43 % -16.62 % -17.24 %
Office 1.51 % 1.15 % 2.96 % 2.95 % 3.23 %
Commercial -0.77 % -1.2 % -0.65 % -1.26 % -0.25 %
Health care 7.92 % 8.32 % 3.35 % 8.1 % 2.15 %
Educational 5.75 % 5.35 % 8.25 % 8.46 % 7.36 %
Religious 15.01 % 0.11 % 5.8 % 0.84 % 2.3 %
Public safety 42.38 % 46.16 % 54.52 % 63.87 % 39.62 %
Amusement & recreation -2.85 % -5.12 % -3.09 % -2.97 % 2.77 %
Transportation 3.17 % 3.23 % 2.56 % 1.46 % -1.25 %
Power 20.42 % 21.95 % 18.75 % 20.07 % 17.75 %
Highway & street -8.87 % 5.41 % 1.97 % -2.92 % -2.02 %
Sewage & waste disposal -1.75 % 0.01 % -0.82 % 3.21 % -4.28 %
Water supply 5.84 % 15.75 % 9.23 % 17.74 % 12.73 %
Conservation & development -16.36 % -6.49 % -4.56 % 3.53 % -5.15 %
Manufacturing -0.27 % 7.41 % 0.37 % 2.29 % 1.2 %
           
Total Private Construction 19.45 % 15.93 % 7.87 % 7.76 % 5.15 %
Residential 19.45 % 15.93 % 7.87 % 7.76 % 5.15 %
New single family 11.37 % 6.18 % -0.04 % 1.68 % -1.37 %
New multi-family 43.23 % 37.77 % 37.31 % 29.55 % 17.1 %
Nonresidential 3.07 % 4.56 % 2.29 % 2.45 % 1.74 %
Lodging -17.16 % -14.75 % -18.23 % -16.99 % -16.66 %
Office 1.37 % 0.64 % 1.4 % 1.94 % 2.56 %
Commercial 0.17 % -0.57 % -0.07 % -1.09 % 0.23 %
Health care 9.2 % 8.92 % 3.15 % 7.34 % 2.62 %
Educational -4.89 % -6.21 % -8.05 % -8.76 % -9.9 %
Religious 14.82 % 0.11 % 5.8 % 0.84 % 2.3 %
Amusement & recreation -11.7 % -12.08 % -12.44 % -16.32 % -3.24 %
Transportation -5.14 % -2.65 % 0.87 % -11.21 % -18.29 %
Communication -4.54 % -2.97 % 0.33 % -0.72 % -1.79 %
Power 22.08 % 23.27 % 18.58 % 20.09 % 17.3 %
Manufacturing -0.51 % 7.24 % 0.29 % 2.19 % 1.09 %
           
Total Public Construction 2.16 % 7.4 % 7.82 % 8.35 % 5.58 %
Residential 35.56 % 38.06 % 46.71 % 47.25 % 28.92 %
Nonresidential 1.48 % 6.76 % 7.08 % 7.61 % 5.14 %
Office 2.4 % 4.42 % 13.24 % 9.34 % 7.61 %
Commercial -16.78 % -12.4 % -10.38 % -4.4 % -8.96 %
Health care 3.06 % 6.06 % 4.1 % 11.2 % 0.32 %
Educational 8.22 % 8.08 % 12.16 % 12.64 % 11.48 %
Public safety 44.52 % 48.45 % 56.86 % 66.37 % 41.89 %
Amusement & recreation 5.8 % 1.52 % 6.33 % 11.82 % 9.47 %
Transportation 6.68 % 5.69 % 3.24 % 7.55 % 7.39 %
Power -1.87 % 3.83 % 21.56 % 19.72 % 25.28 %
Highway & street -8.83 % 5.34 % 2.01 % -2.92 % -2.13 %
Sewage & waste disposal -0.64 % 0.73 % 0.29 % 4.53 % -3.23 %
Water supply 4.4 % 13.95 % 8.14 % 16.5 % 12.53 %
Conservation & development -16.94 % -6.61 % -4.64 % 3.36 % -5.25 %



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




Construction Spending Seasonally Adjusted
Annuall Rate ( M/M in % )
Sep. 2020
Prel.
Aug. 2020
Prel.
July 2020
Prel.
June 2020
Rest.
May 2020
Prel.
Total Construction 0.09 % 3.54 % 0 % 0.6 % 0.76 %
Residential 3.54 % 7.76 % 0 % 2.12 % -0.08 %
Nonresidential -2.46 % 0.64 % 0 % -0.42 % 1.33 %
Lodging -3.95 % 1.46 % 0 % 1.74 % -6.22 %
Office 0.64 % -1 % 0 % 0.63 % 2.55 %
Commercial -0.18 % -0.66 % 0 % 0.31 % -8.35 %
Health care 0.35 % 1.37 % 0 % 5.48 % -3.75 %
Educational 3.19 % 1.27 % 0 % -5.58 % 11.39 %
Religious 12.34 % -1.87 % 0 % -4.25 % 10.07 %
Public safety -4.44 % -5.52 % 0 % 15.65 % 4.27 %
Amusement & recreation -1.29 % -0.75 % 0 % -5.17 % 9.73 %
Transportation -0.22 % -0.28 % 0 % 0.63 % 6.15 %
Power -2.48 % -0.14 % 0 % 0.32 % 5.89 %
Highway & street -11.29 % 1.73 % 0 % -7.15 % 0.49 %
Sewage & waste disposal -1.37 % -1.52 % 0 % 6.68 % -2.12 %
Water supply -3.52 % 3.33 % 0 % 4.75 % -2.31 %
Conservation & development -12.78 % -5.22 % 0 % 13.24 % -4.54 %
Manufacturing -6.07 % 5.79 % 0 % 1.95 % -4.06 %
           
Total Private Construction 3.64 % 7.84 % 0 % 1.99 % -0.16 %
Residential 3.64 % 7.84 % 0 % 1.99 % -0.16 %
New single family 6.24 % 7.41 % 0 % 2.39 % -6.83 %
New multi-family 3.19 % -0.41 % 0 % 10.89 % 44.23 %
Nonresidential -1.68 % 1.1 % 0 % 0.34 % -0.43 %
Lodging -4.06 % 1.44 % 0 % 1.39 % -6.93 %
Office 1.05 % -0.38 % 0 % -0.25 % 2.32 %
Commercial -0.05 % -0.33 % 0 % -0.07 % -8.32 %
Health care 1.08 % 1.24 % 0 % 5.07 % -4.69 %
Educational 2.78 % 4.91 % 0 % -4.02 % 12.89 %
Religious 12.16 % -1.87 % 0 % -4.25 % 10.07 %
Amusement & recreation -1.93 % -1.02 % 0 % -13.39 % 11.32 %
Transportation -1.9 % -2.54 % 0 % 2.75 % 4.1 %
Communication -2.46 % 0.1 % 0 % -0.13 % -1.59 %
Power -2.35 % 0.19 % 0 % 0.24 % 5.9 %
Manufacturing -6.09 % 5.7 % 0 % 1.99 % -3.81 %
           
Total Public Construction -3.5 % 0.08 % 0 % -1.15 % 3.83 %
Residential -2.51 % 2.99 % 0 % 11.13 % 5.78 %
Nonresidential -3.52 % 0.01 % 0 % -1.43 % 3.78 %
Office -1.91 % -4.62 % 0 % 6.14 % 4.01 %
Commercial -2.75 % -6.79 % 0 % 8 % -8.94 %
Health care -2.47 % 1.89 % 0 % 7.11 % 0.2 %
Educational 3.28 % 0.55 % 0 % -5.88 % 11.11 %
Public safety -4.24 % -5.57 % 0 % 15.44 % 4.32 %
Amusement & recreation -0.76 % -0.52 % 0 % 2.94 % 8.21 %
Transportation 0.42 % 0.62 % 0 % -0.19 % 6.96 %
Power -4.56 % -5.2 % 0 % 1.51 % 5.82 %
Highway & street -11.19 % 1.64 % 0 % -7.12 % 0.43 %
Sewage & waste disposal -1.05 % -1.55 % 0 % 6.5 % -2.04 %
Water supply -3.21 % 2.73 % 0 % 3.69 % -2.16 %
Conservation & development -13.2 % -5.37 % 0 % 13.26 % -4.64 %

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


       
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