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In February construction spending continued to grow
Construction Spending
U.S. construction outlays continue to increase after recent decline, as willingness of investors to spend increase.
In February outlays for U.S. construction projects jumped by 1 % on the seasonally adjusted basis, reported by the Commerce Department to annual rate at $1320.3 billion. Growth of nonresidential construction in the last month, shows pick up of investments in commercial and infrastructure projects.
Report indicates signs of growing optimism as investors open their wallets, construction spending is closely watched by investors and economists for signs of whether the economy is growing or shrinking.
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U.S. construction spending increased by 1.1 % from Feb. 2018, led by public spending.
Outlays for private construction increased by 0.7 % and accelerated 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, spending on private construction projects deteriorated by -2.8 %.
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| Public Construction Spending
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January outlays for U.S. construction projects were revised to $1307.3 billion to show 1.1 % growth.
Spending on public construction projects jumped by 3.6 % 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.
Government spending on residential buildings, represents now 0.43 % of total construction spending.
From the same month a year ago, public construction outlays jumped by 9.6 %.
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Construction Spending Seasonally Adjusted
( in millions $) Annual Rate |
Feb. 2019
Prel. |
Jan. 2019
Rest. |
Dec. 2018
Prel. |
Nov. 2018
Prel. |
Oct. 2018
Prel. |
| Total Construction |
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1,320,305 |
1,307,335 |
1,292,717 |
1,299,875 |
1,308,848 |
| Residential |
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546,549 |
542,629 |
542,178 |
548,380 |
545,066 |
| Nonresidential |
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773,757 |
764,706 |
750,540 |
751,495 |
763,782 |
| Lodging |
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33,445 |
33,453 |
33,578 |
33,462 |
34,335 |
| Office |
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75,625 |
75,760 |
74,835 |
74,407 |
76,024 |
| Commercial |
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87,810 |
88,783 |
86,188 |
87,459 |
88,686 |
| Health care |
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41,433 |
41,956 |
41,360 |
41,011 |
42,400 |
| Educational |
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96,467 |
96,763 |
98,462 |
98,710 |
98,891 |
| Religious |
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3,087 |
3,214 |
3,028 |
3,075 |
2,960 |
| Public safety |
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9,338 |
9,060 |
9,335 |
9,486 |
9,547 |
| Amusement & recreation |
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27,338 |
27,133 |
27,088 |
27,631 |
27,877 |
| Transportation |
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52,672 |
54,728 |
53,088 |
53,020 |
53,458 |
| Power |
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98,453 |
97,701 |
98,838 |
98,348 |
99,357 |
| Highway & street |
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111,484 |
101,717 |
89,482 |
93,646 |
94,790 |
| Sewage & waste disposal |
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23,658 |
22,530 |
22,058 |
22,121 |
22,222 |
| Water supply |
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14,467 |
13,758 |
13,041 |
13,240 |
14,165 |
| Conservation & development |
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8,556 |
8,549 |
7,467 |
7,847 |
8,105 |
| Manufacturing |
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66,743 |
66,173 |
67,727 |
64,524 |
67,102 |
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| Total Private Construction
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540,897 |
536,941 |
536,655 |
542,534 |
538,958 |
| Residential |
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540,897 |
536,941 |
536,655 |
542,534 |
538,958 |
| New single family |
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267,179 |
270,133 |
267,440 |
277,512 |
282,611 |
| New multi-family |
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65,274 |
65,557 |
65,245 |
64,729 |
62,035 |
| Nonresidential |
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453,640 |
456,021 |
454,516 |
450,829 |
459,733 |
| Lodging |
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32,153 |
32,108 |
32,168 |
31,852 |
32,947 |
| Office |
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65,796 |
66,052 |
64,880 |
65,097 |
66,436 |
| Commercial |
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83,654 |
84,338 |
82,120 |
83,801 |
84,714 |
| Health care |
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33,149 |
33,049 |
32,726 |
31,410 |
32,885 |
| Educational |
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20,138 |
21,057 |
20,960 |
22,034 |
21,989 |
| Religious |
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3,087 |
3,214 |
3,028 |
3,028 |
2,944 |
| Amusement & recreation |
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14,387 |
14,496 |
14,604 |
14,933 |
15,006 |
| Transportation |
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17,865 |
19,204 |
17,510 |
17,675 |
17,542 |
| Communication |
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23,046 |
23,310 |
24,764 |
23,287 |
23,650 |
| Power |
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92,278 |
91,753 |
92,816 |
92,251 |
93,639 |
| Manufacturing |
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66,614 |
66,026 |
67,583 |
64,355 |
66,768 |
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| Total Public Construction |
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325,769 |
314,373 |
301,546 |
306,512 |
310,156 |
| Residential |
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5,652 |
5,688 |
5,522 |
5,846 |
6,108 |
| Nonresidential |
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320,117 |
308,686 |
296,024 |
300,666 |
304,049 |
| Office |
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9,829 |
9,708 |
9,954 |
9,310 |
9,588 |
| Commercial |
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4,156 |
4,446 |
4,068 |
3,658 |
3,972 |
| Health care |
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8,284 |
8,907 |
8,634 |
9,602 |
9,516 |
| Educational |
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76,329 |
75,706 |
77,502 |
76,676 |
76,902 |
| Public safety |
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9,113 |
8,840 |
9,162 |
9,341 |
9,416 |
| Amusement & recreation |
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12,951 |
12,638 |
12,483 |
12,698 |
12,871 |
| Transportation |
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34,807 |
35,524 |
35,578 |
35,345 |
35,916 |
| Power |
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6,175 |
5,949 |
6,022 |
6,097 |
5,718 |
| Highway & street |
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111,147 |
101,470 |
89,111 |
93,379 |
94,556 |
| Sewage & waste disposal |
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22,996 |
21,859 |
21,447 |
21,646 |
21,678 |
| Water supply |
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14,241 |
13,542 |
12,855 |
13,034 |
13,879 |
| Conservation & development |
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8,533 |
8,486 |
7,453 |
7,832 |
8,088 |
Construction Spending by Month and Category Year on Year Growth at Annual Rate
Construction Spending Seasonally
Adjusted
Annuall Rate ( Y/Y in % ) |
Feb. 2019
Prel. |
Jan. 2019
Rest. |
Dec. 2018
Prel. |
Nov. 2018
Prel. |
Oct. 2018
Prel. |
| Total Construction |
1.07 % |
3.53 % |
2.38 % |
3.81 % |
5.42 % |
| Residential |
-3.02 % |
2.41 % |
2.53 % |
3.18 % |
4.04 % |
| Nonresidential |
4.17 % |
4.34 % |
2.26 % |
4.28 % |
6.43 % |
| Lodging |
6.02 % |
8.15 % |
9.84 % |
14.67 % |
13.77 % |
| Office |
2.26 % |
7.51 % |
4.79 % |
7.89 % |
10.05 % |
| Commercial |
-5.81 % |
0.12 % |
-4.59 % |
-1.55 % |
5.27 % |
| Health care |
-1.76 % |
-1.73 % |
-1.67 % |
-1.2 % |
1.12 % |
Educational |
1.67 % |
-1.03 % |
1.66 % |
5.15 % |
-1.56 % |
| Religious |
7.3 % |
10.22 % |
3.06 % |
4.59 % |
-4.73 % |
| Public safety |
-2.13 % |
-9.86 % |
-0.54 % |
11.29 % |
10.29 % |
| Amusement & recreation |
12.9 % |
13.27 % |
13.51 % |
16.4 % |
19.65 % |
Transportation |
1.16 % |
11.31 % |
8.98 % |
12.53 % |
14.24 % |
| Power |
3.72 % |
4.37 % |
-1.49 % |
-2.87 % |
0.59 % |
| Highway & street |
23.76 % |
9.52 % |
0.59 % |
6.13 % |
8.96 % |
| Sewage & waste disposal |
12.15 % |
9.09 % |
6.17 % |
6.88 % |
14.25 % |
Water supply |
16.23 % |
20.6 % |
9.34 % |
14.98 % |
19.6 % |
| Conservation & development |
2.15 % |
16.22 % |
-1.81 % |
5.94 % |
-1.27 % |
Manufacturing |
-1.43 % |
1.44 % |
5.3 % |
1.85 % |
8.57 % |
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| Total Private Construction
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-2.81 % |
2.63 % |
2.85 % |
3.46 % |
4.11 % |
| Residential |
-2.81 % |
2.63 % |
2.85 % |
3.46 % |
4.11 % |
| New single family |
-6.19 % |
-2.73 % |
-3.07 % |
1.23 % |
5.75 % |
| New multi-family |
7.8 % |
7.23 % |
5.31 % |
5.82 % |
1.86 % |
| Nonresidential |
0.24 % |
3.74 % |
1.87 % |
2.88 % |
6.36 % |
| Lodging |
6.29 % |
8.8 % |
11.04 % |
13.26 % |
14.38 % |
| Office |
3.81 % |
8.11 % |
5.1 % |
9.69 % |
11.68 % |
| Commercial |
-5.97 % |
-0.38 % |
-5.64 % |
-2.33 % |
4.51 % |
| Health care |
4.02 % |
6.23 % |
4.13 % |
-0.22 % |
2.7 % |
| Educational |
-7.03 % |
0.14 % |
-3.44 % |
5.64 % |
2.26 % |
| Religious |
7.3 % |
10.22 % |
3.06 % |
2.99 % |
-5.25 % |
| Amusement & recreation |
5.4 % |
4.71 % |
8.01 % |
13.5 % |
13.6 % |
| Transportation |
-3.74 % |
6.52 % |
-1.2 % |
4.41 % |
5.5 % |
| Communication |
-2.38 % |
-6.83 % |
4.3 % |
-0.36 % |
4.36 % |
| Power |
2.52 % |
5.06 % |
-0.28 % |
-0.53 % |
1.82 % |
| Manufacturing |
-0.78 % |
2.36 % |
6.07 % |
2.39 % |
9.1 % |
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| Total Public Construction |
9.58 % |
4.77 % |
2.3 % |
5.87 % |
6.37 % |
| Residential |
-19.58 % |
-15.27 % |
-21.29 % |
-17.52 % |
-1.64 % |
| Nonresidential |
10.28 % |
5.23 % |
2.87 % |
6.46 % |
6.54 % |
| Office |
-7.02 % |
3.59 % |
2.79 % |
-3.19 % |
-0.04 % |
| Commercial |
-2.51 % |
10.62 % |
23.09 % |
20.45 % |
24.48 % |
| Health care |
-19.64 % |
-23.12 % |
-18.8 % |
-4.28 % |
-3.98 % |
| Educational |
4.24 % |
-1.35 % |
3.13 % |
5.01 % |
-2.6 % |
Public safety |
-3.63 % |
-11.66 % |
-1.36 % |
10.82 % |
10.32 % |
| Amusement & recreation |
22.6 % |
24.99 % |
20.69 % |
20.02 % |
27.56 % |
| Transportation |
3.88 % |
14.07 % |
14.81 % |
17.09 % |
19.07 % |
| Power |
25.81 % |
-5.15 % |
-17.03 % |
-28.36 % |
-16.02 % |
Highway & street |
23.65 % |
9.52 % |
0.4 % |
6.08 % |
8.91 % |
| Sewage & waste disposal |
9.7 % |
6.5 % |
3.92 % |
5.3 % |
12.07 % |
| Water supply |
15.57 % |
19.99 % |
9.08 % |
14.99 % |
19.15 % |
Conservation & development |
2.22 % |
15.36 % |
-1.93 % |
5.84 % |
-1.39 % |
Construction Spending by Month and Category Month on Month Growth at Annual Rate
Construction Spending Seasonally
Adjusted
Annuall Rate ( M/M in % ) |
Feb. 2019
Prel. |
Jan. 2019
Rest. |
Dec. 2018
Prel. |
Nov. 2018
Prel. |
Oct. 2018
Prel. |
| Total Construction |
0.99 % |
1.13 % |
-0.55 % |
-0.69 % |
-1.55 % |
| Residential |
0.72 % |
0.08 % |
-1.13 % |
0.61 % |
-3.07 % |
| Nonresidential |
1.18 % |
1.89 % |
-0.13 % |
-1.61 % |
-0.44 % |
| Lodging |
-0.02 % |
-0.37 % |
0.35 % |
-2.54 % |
3.14 % |
| Office |
-0.18 % |
1.24 % |
0.58 % |
-2.13 % |
3.69 % |
| Commercial |
-1.1 % |
3.01 % |
-1.45 % |
-1.38 % |
-3.25 % |
| Health care |
-1.25 % |
1.44 % |
0.85 % |
-3.28 % |
-0.37 % |
Educational |
-0.31 % |
-1.73 % |
-0.25 % |
-0.18 % |
2.51 % |
| Religious |
-3.95 % |
6.14 % |
-1.53 % |
3.89 % |
2.17 % |
| Public safety |
3.07 % |
-2.95 % |
-1.59 % |
-0.64 % |
0.1 % |
| Amusement & recreation |
0.76 % |
0.17 % |
-1.97 % |
-0.88 % |
-0.43 % |
Transportation |
-3.76 % |
3.09 % |
0.13 % |
-0.82 % |
-0.39 % |
| Power |
0.77 % |
-1.15 % |
0.5 % |
-1.02 % |
-2.17 % |
| Highway & street |
9.6 % |
13.67 % |
-4.45 % |
-1.21 % |
-0.56 % |
| Sewage & waste disposal |
5.01 % |
2.14 % |
-0.28 % |
-0.45 % |
-0.14 % |
Water supply |
5.15 % |
5.5 % |
-1.5 % |
-6.53 % |
-4.4 % |
| Conservation & development |
0.08 % |
14.49 % |
-4.84 % |
-3.18 % |
-14.5 % |
Manufacturing |
0.86 % |
-2.29 % |
4.96 % |
-3.84 % |
-1.61 % |
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| Total Private Construction
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0.74 % |
0.05 % |
-1.08 % |
0.66 % |
-3.14 % |
| Residential |
0.74 % |
0.05 % |
-1.08 % |
0.66 % |
-3.14 % |
| New single family |
-1.09 % |
1.01 % |
-3.63 % |
-1.8 % |
-0.22 % |
| New multi-family |
-0.43 % |
0.48 % |
0.8 % |
4.34 % |
-3.41 % |
| Nonresidential |
-0.52 % |
0.33 % |
0.82 % |
-1.94 % |
-0.91 % |
| Lodging |
0.14 % |
-0.19 % |
0.99 % |
-3.32 % |
2.98 % |
| Office |
-0.39 % |
1.81 % |
-0.33 % |
-2.02 % |
3.38 % |
| Commercial |
-0.81 % |
2.7 % |
-2.01 % |
-1.08 % |
-3.87 % |
| Health care |
0.3 % |
0.99 % |
4.19 % |
-4.49 % |
-1.27 % |
| Educational |
-4.36 % |
0.46 % |
-4.87 % |
0.2 % |
0.37 % |
| Religious |
-3.95 % |
6.14 % |
0 % |
2.85 % |
1.62 % |
| Amusement & recreation |
-0.75 % |
-0.74 % |
-2.2 % |
-0.49 % |
-2.13 % |
| Transportation |
-6.97 % |
9.67 % |
-0.93 % |
0.76 % |
-2.16 % |
| Communication |
-1.13 % |
-5.87 % |
6.34 % |
-1.53 % |
-0.7 % |
| Power |
0.57 % |
-1.15 % |
0.61 % |
-1.48 % |
-1.98 % |
| Manufacturing |
0.89 % |
-2.3 % |
5.02 % |
-3.61 % |
-1.48 % |
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| Total Public Construction |
3.62 % |
4.25 % |
-1.62 % |
-1.17 % |
0.34 % |
| Residential |
-0.63 % |
3.01 % |
-5.54 % |
-4.29 % |
3.58 % |
| Nonresidential |
3.7 % |
4.28 % |
-1.54 % |
-1.11 % |
0.28 % |
| Office |
1.25 % |
-2.47 % |
6.92 % |
-2.9 % |
5.83 % |
| Commercial |
-6.52 % |
9.29 % |
11.21 % |
-7.91 % |
12.11 % |
| Health care |
-6.99 % |
3.16 % |
-10.08 % |
0.9 % |
2.89 % |
| Educational |
0.82 % |
-2.32 % |
1.08 % |
-0.29 % |
3.13 % |
Public safety |
3.09 % |
-3.51 % |
-1.92 % |
-0.8 % |
0.27 % |
| Amusement & recreation |
2.48 % |
1.24 % |
-1.69 % |
-1.34 % |
1.63 % |
| Transportation |
-2.02 % |
-0.15 % |
0.66 % |
-1.59 % |
0.5 % |
| Power |
3.8 % |
-1.21 % |
-1.23 % |
6.63 % |
-5.3 % |
Highway & street |
9.54 % |
13.87 % |
-4.57 % |
-1.24 % |
-0.65 % |
| Sewage & waste disposal |
5.2 % |
1.92 % |
-0.92 % |
-0.15 % |
-0.16 % |
| Water supply |
5.16 % |
5.34 % |
-1.37 % |
-6.09 % |
-5 % |
Conservation & development |
0.55 % |
13.86 % |
-4.84 % |
-3.17 % |
-14.51 % |
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