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In November growth in construction spending slows

Construction Spending



Outlays for U.S. construction projects continue to grow but on the slower pace, mainly because of slow construction spending for lodging.
Construction spending including food services grew in November by 0.6 % on the seasonally adjusted basis to annual rate at $1324.1 billion, reported by the Commerce Department. 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.October outlays for U.S. construction projects were revised to $1316.8 billion to show 1.8 % growth.

Construction Spending (Picture Autor: Badseed) licence GNU


U.S. construction spending increased by 1.9 % from Nov. 2018, led by public spending.
Spending on private construction has climbed by 1.9 % on the seasonally adjusted basis.
Investors often use nonresidential construction spending as indicator of investment sentiment in each sector, as increase in construction spending represents growth in long term investment and signals expansion.
Private construction outlays fell by -1.2 % from Nov. 2018.
  M/M Y/Y
  Commercial -0.98% -4.81%
  Office -0.02% 7.57 %
  Transportation 1.01% 4.74 %
  Power -1.05% -1.04%
  Manufacturing -2.40% 10.82 %
  Lodging -3.52% -4.47%



     
Public Construction Spending
October outlays for U.S. construction projects were revised to $1316.8 billion to show 1.8 % growth.
Outlays for public construction increased by 0.9 % more then double the rate, of total construction growth on the seasonally adjusted basis, outlays for nonresidential construction increased above average for educational, power, highway and street projects. Public outlays for commercial buildings fell.
Growth in public construction spending is very volatile and often it does not reflect current economic contidions.
From the same month a year ago, public construction outlays jumped by 10.5 %.




Construction Spending Seasonally Adjusted
( in millions $) Annual Rate
Nov. 2019

Prel.
Oct. 2019

Rest.
Sep. 2019

Prel.
Aug. 2019

Rest.
July 2019

Prel.
Total Construction
1,324,122 1,316,764 1,293,614 1,287,054 1,288,794
Residential
543,059 533,414 517,977 515,054 512,777
Nonresidential
781,063 783,351 775,637 772,000 776,017
Lodging
31,966 33,132 33,253 33,666 34,663
Office
80,040 80,059 79,778 79,552 78,943
Commercial
83,248 84,071 81,957 82,470 82,552
Health care
43,662 43,691 43,605 43,291 44,761
Educational
102,029 102,433 97,183 94,533 90,845
Religious
2,872 2,905 2,659 2,719 2,622
Public safety
10,605 11,093 10,289 10,488 10,500
Amusement & recreation
27,206 27,039 27,170 28,184 27,802
Transportation
55,531 54,976 55,564 55,654 56,179
Power
97,323 98,359 95,581 96,770 99,518
Highway & street
96,747 94,699 98,263 95,759 97,314
Sewage & waste disposal
27,075 27,142 27,303 27,196 27,848
Water supply
18,147 17,628 17,839 16,905 17,338
Conservation & development
9,708 9,770 9,171 9,405 9,722
Manufacturing
71,506 73,262 72,502 71,667 72,491
             
Total Private Construction
536,089 526,349 511,419 508,449 506,743
Residential
536,089 526,349 511,419 508,449 506,743
New single family
280,661 277,460 274,612 271,120 268,138
New multi-family
59,118 59,101 61,533 61,993 62,458
Nonresidential
449,394 454,729 450,251 451,410 456,396
Lodging
30,710 31,914 32,366 32,782 33,691
Office
68,733 68,834 69,022 68,799 68,547
Commercial
79,074 79,515 77,415 78,033 77,899
Health care
34,785 34,924 34,502 34,222 35,691
Educational
18,086 18,450 18,318 18,073 17,572
Religious
2,872 2,905 2,659 2,719 2,622
Amusement & recreation
13,349 13,308 13,429 13,753 13,951
Transportation
16,196 16,339 16,505 16,395 16,234
Communication
23,298 22,997 23,416 23,620 22,818
Power
89,722 91,140 88,944 90,197 93,596
Manufacturing
71,150 72,933 72,290 71,415 72,250
             
Total Public Construction
338,639 335,687 331,944 327,195 325,655
Residential
6,970 7,065 6,558 6,605 6,035
Nonresidential
331,669 328,622 325,386 320,591 319,621
Office
11,307 11,225 10,756 10,753 10,396
Commercial
4,174 4,557 4,542 4,437 4,653
Health care
8,876 8,767 9,103 9,070 9,070
Educational
83,943 83,982 78,864 76,459 73,273
Public safety
10,478 10,964 10,078 10,246 10,269
Amusement & recreation
13,857 13,731 13,741 14,431 13,850
Transportation
39,335 38,637 39,059 39,259 39,944
Power
7,601 7,219 6,638 6,573 5,922
Highway & street
96,436 94,315 97,982 95,482 97,011
Sewage & waste disposal
26,505 26,558 26,732 26,647 27,186
Water supply
17,816 17,334 17,560 16,622 17,049
Conservation & development
9,628 9,691 9,129 9,354 9,681



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




Construction Spending Seasonally Adjusted
Annuall Rate ( Y/Y in % )
Nov. 2019
Prel.
Oct. 2019
Rest.
Sep. 2019
Prel.
Aug. 2019
Rest.
July 2019
Prel.
Total Construction 1.87 % 0.6 % -2.7 % -2.38 % -2.17 %
Residential -0.97 % -2.14 % -7.89 % -7.32 % -8.39 %
Nonresidential 3.93 % 2.56 % 1.11 % 1.21 % 2.42 %
Lodging -4.47 % -3.5 % -0.11 % 5.99 % 11.45 %
Office 7.57 % 5.31 % 8.8 % 7.67 % 8.85 %
Commercial -4.81 % -5.2 % -10.59 % -9.67 % -10.48 %
Health care 6.46 % 3.04 % 2.46 % 3.17 % 7.79 %
Educational 3.36 % 3.58 % 0.73 % 2.05 % -1.28 %
Religious -6.6 % -1.86 % -8.22 % -4.09 % -8.35 %
Public safety 11.8 % 16.19 % 7.89 % 7.15 % 8.01 %
Amusement & recreation -1.54 % -3.01 % -2.95 % 3.24 % 4.57 %
Transportation 4.74 % 2.84 % 3.53 % 3 % 3.94 %
Power -1.04 % -1 % -5.89 % -4.03 % -2.56 %
Highway & street 3.31 % -0.1 % 3.08 % -3.47 % -0.27 %
Sewage & waste disposal 22.4 % 22.14 % 22.69 % 19.01 % 23.95 %
Water supply 37.06 % 24.45 % 20.4 % 6.07 % 13.68 %
Conservation & development 23.72 % 20.54 % -3.25 % -2.4 % 7.44 %
Manufacturing 10.82 % 9.18 % 6.31 % 12.2 % 13.03 %
           
Total Private Construction -1.19 % -2.34 % -8.09 % -7.37 % -8.37 %
Residential -1.19 % -2.34 % -8.09 % -7.37 % -8.37 %
New single family 1.13 % -1.82 % -3.05 % -4.84 % -6.52 %
New multi-family -8.67 % -4.73 % -4.2 % 5.88 % 4.86 %
Nonresidential -0.32 % -1.09 % -2.95 % -0.32 % 0.55 %
Lodging -3.59 % -3.14 % 1.16 % 8.41 % 11.9 %
Office 5.59 % 3.61 % 7.41 % 8.35 % 8.8 %
Commercial -5.64 % -6.14 % -12.15 % -11.23 % -12.16 %
Health care 10.74 % 6.2 % 3.59 % 7.58 % 13.32 %
Educational -17.92 % -16.09 % -16.39 % -10.94 % -13.74 %
Religious -5.15 % -1.32 % -8.22 % -4.09 % -8.35 %
Amusement & recreation -10.61 % -11.32 % -12.42 % -8.06 % -5.01 %
Transportation -8.37 % -6.86 % -7.94 % -8.36 % -8.07 %
Communication 0.05 % -2.76 % -1.68 % -3.83 % -6.47 %
Power -2.74 % -2.67 % -6.89 % -4.66 % -2.36 %
Manufacturing 10.56 % 9.23 % 6.66 % 12.86 % 13.36 %
           
Total Public Construction 10.48 % 8.23 % 7.39 % 3.3 % 4.87 %
Residential 19.23 % 15.67 % 11.21 % -3.7 % -10.22 %
Nonresidential 10.31 % 8.08 % 7.32 % 3.46 % 5.21 %
Office 21.45 % 17.07 % 18.72 % 3.5 % 9.19 %
Commercial 14.11 % 14.73 % 28.2 % 30.46 % 31.63 %
Health care -7.56 % -7.87 % -1.58 % -10.65 % -9.6 %
Educational 9.48 % 9.21 % 5.77 % 5.7 % 2.26 %
Public safety 12.17 % 16.44 % 7.32 % 6.25 % 7.59 %
Amusement & recreation 9.13 % 6.68 % 8.5 % 16.94 % 16.38 %
Transportation 11.29 % 7.58 % 9.29 % 8.62 % 9.76 %
Power 24.67 % 26.25 % 9.94 % 5.44 % -5.69 %
Highway & street 3.27 % -0.25 % 2.95 % -3.57 % -0.32 %
Sewage & waste disposal 22.45 % 22.51 % 23.12 % 18.54 % 23.04 %
Water supply 36.69 % 24.89 % 20.19 % 6.05 % 13.4 %
Conservation & development 22.93 % 19.82 % -3.51 % -2.77 % 7.2 %



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




Construction Spending Seasonally Adjusted
Annuall Rate ( M/M in % )
Nov. 2019
Prel.
Oct. 2019
Rest.
Sep. 2019
Prel.
Aug. 2019
Rest.
July 2019
Prel.
Total Construction 0.56 % 1.79 % 0.51 % -0.14 % 0.14 %
Residential 1.81 % 2.98 % 0.57 % 0.44 % -0.09 %
Nonresidential -0.29 % 0.99 % 0.47 % -0.52 % 0.29 %
Lodging -3.52 % -0.36 % -1.23 % -2.88 % 0.97 %
Office -0.02 % 0.35 % 0.28 % 0.77 % -0.01 %
Commercial -0.98 % 2.58 % -0.62 % -0.1 % -0.62 %
Health care -0.07 % 0.2 % 0.73 % -3.28 % 4.6 %
Educational -0.39 % 5.4 % 2.8 % 4.06 % 0.19 %
Religious -1.14 % 9.25 % -2.21 % 3.7 % -4.69 %
Public safety -4.4 % 7.81 % -1.9 % -0.11 % 6.05 %
Amusement & recreation 0.62 % -0.48 % -3.6 % 1.37 % 0.13 %
Transportation 1.01 % -1.06 % -0.16 % -0.93 % -1.07 %
Power -1.05 % 2.91 % -1.23 % -2.76 % 1.11 %
Highway & street 2.16 % -3.63 % 2.61 % -1.6 % -4.79 %
Sewage & waste disposal -0.25 % -0.59 % 0.39 % -2.34 % 4.07 %
Water supply 2.94 % -1.18 % 5.52 % -2.5 % 7.8 %
Conservation & development -0.63 % 6.53 % -2.49 % -3.26 % 8.47 %
Manufacturing -2.4 % 1.05 % 1.17 % -1.14 % 1.91 %
           
Total Private Construction 1.85 % 2.92 % 0.58 % 0.34 % -0.1 %
Residential 1.85 % 2.92 % 0.58 % 0.34 % -0.1 %
New single family 1.15 % 1.04 % 1.29 % 1.11 % 1.73 %
New multi-family 0.03 % -3.95 % -0.74 % -0.74 % -5.65 %
Nonresidential -1.17 % 0.99 % -0.26 % -1.09 % 0.15 %
Lodging -3.77 % -1.4 % -1.27 % -2.7 % 1.52 %
Office -0.15 % -0.27 % 0.32 % 0.37 % 0.53 %
Commercial -0.55 % 2.71 % -0.79 % 0.17 % -1.02 %
Health care -0.4 % 1.22 % 0.82 % -4.12 % 4.06 %
Educational -1.97 % 0.72 % 1.36 % 2.85 % -0.77 %
Religious -1.14 % 9.25 % -2.21 % 3.7 % -4.69 %
Amusement & recreation 0.31 % -0.9 % -2.36 % -1.42 % -4.43 %
Transportation -0.88 % -1.01 % 0.67 % 0.99 % -11.98 %
Communication 1.31 % -1.79 % -0.86 % 3.51 % -1.05 %
Power -1.56 % 2.47 % -1.39 % -3.63 % 1.28 %
Manufacturing -2.44 % 0.89 % 1.23 % -1.16 % 1.9 %
           
Total Public Construction 0.88 % 1.13 % 1.45 % 0.47 % 0.49 %
Residential -1.34 % 7.73 % -0.71 % 9.44 % 0.37 %
Nonresidential 0.93 % 0.99 % 1.5 % 0.3 % 0.5 %
Office 0.73 % 4.36 % 0.03 % 3.43 % -3.44 %
Commercial -8.4 % 0.33 % 2.37 % -4.64 % 6.67 %
Health care 1.24 % -3.69 % 0.36 % 0 % 6.82 %
Educational -0.05 % 6.49 % 3.15 % 4.35 % 0.42 %
Public safety -4.43 % 8.79 % -1.64 % -0.22 % 6.06 %
Amusement & recreation 0.92 % -0.07 % -4.78 % 4.19 % 5.16 %
Transportation 1.81 % -1.08 % -0.51 % -1.71 % 4.17 %
Power 5.29 % 8.75 % 0.99 % 10.99 % -1.51 %
Highway & street 2.25 % -3.74 % 2.62 % -1.58 % -4.83 %
Sewage & waste disposal -0.2 % -0.65 % 0.32 % -1.98 % 4.23 %
Water supply 2.78 % -1.29 % 5.64 % -2.5 % 7.73 %
Conservation & development -0.65 % 6.16 % -2.41 % -3.38 % 8.39 %

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


             
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