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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.

Construction Spending (Picture Autor: Badseed) licence GNU


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 %.
  M/M Y/Y
  Commercial -1.87% 27.66 %
  Office -0.17% 6.26 %
  Transportation -0.32% 1.17 %
  Power -1.02% 3.27 %
  Manufacturing -1.63% 36.20 %
  Lodging 0.46% -26.34%



     
Public Construction Spending
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.




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
2,761 2,865 2,888 2,988 3,081
Public safety
10,602 10,438 10,201 10,048 10,572
Amusement & recreation
25,769 26,328 26,043 26,008 26,007
Transportation
56,383 56,564 56,877 56,004 56,932
Power
117,555 118,769 117,000 114,474 114,641
Highway & street
103,908 104,355 106,129 106,302 104,791
Sewage & waste disposal
29,145 28,918 27,443 27,207 27,778
Water supply
19,388 19,613 18,496 18,995 19,041
Conservation & development
8,599 8,205 8,368 7,758 7,715
Manufacturing
94,491 96,057 93,224 86,039 89,513
             
Total Private Construction
882,045 873,222 829,377 818,957 801,584
Residential
882,045 873,222 829,377 818,957 801,584
New single family
472,755 466,730 445,085 439,644 427,572
New multi-family
101,116 101,632 101,471 101,524 100,156
Nonresidential
497,609 503,649 497,170 488,190 489,225
Lodging
16,654 16,584 17,641 17,761 17,197
Office
72,638 72,645 72,520 72,602 71,974
Commercial
94,806 96,655 94,739 95,213 94,949
Health care
39,037 39,789 39,852 40,124 40,237
Educational
18,196 18,469 17,456 17,509 16,999
Religious
2,761 2,865 2,885 2,986 3,076
Amusement & recreation
12,557 12,797 12,493 12,598 12,352
Transportation
15,554 15,540 15,523 15,295 15,175
Communication
21,689 21,669 21,738 21,808 21,904
Power
107,728 109,035 107,454 104,669 104,494
Manufacturing
94,107 95,640 92,864 85,590 89,059
             
Total Public Construction
350,816 351,694 350,699 348,700 352,214
Residential
9,236 9,192 8,974 8,664 8,903
Nonresidential
341,580 342,501 341,726 340,036 343,311
Office
11,942 12,078 12,146 11,802 11,920
Commercial
3,502 3,522 3,437 3,324 3,524
Health care
11,332 11,193 11,327 10,697 11,130
Educational
80,348 81,009 80,943 80,963 82,012
Public safety
10,522 10,364 10,129 9,943 10,460
Amusement & recreation
13,213 13,531 13,550 13,410 13,655
Transportation
40,829 41,024 41,354 40,708 41,758
Power
9,827 9,734 9,546 9,805 10,146
Highway & street
103,138 103,530 105,345 105,470 104,193
Sewage & waste disposal
28,722 28,484 26,984 26,812 27,383
Water supply
18,824 19,027 17,877 18,388 18,458
Conservation & development
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 %
           
Total Private Construction 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 %
           
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 %
           
Total Private Construction 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 %
           
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 %

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


       
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