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September Outlays for U.S. construction projects grew
Construction Spending
U.S. Department of Commerce reported 0.5 % increase in construction spending in September, led by increase in residential construction. Construction spending including food services grew in September by 0.5 % on the seasonally adjusted basis to annual rate at $1293.6 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.August outlays for U.S. construction projects were revised to $1287.1 billion to show -0.1 % decline.
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From the same month a year ago, construction spending deteriorated by -2.7 % mainly because of retreating residential construction outlays by -7.9 %. Outlays for private construction increased by 0.6 % and accelerated on the seasonally adjusted basis, nonresidential construction was led by spending increases for health care projects and manufacturing buildings. A negative news came from the business sector, as businesses cut investments for construction of commercial buildings. 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. Outlays for private construction projects dropped by -8.1 % from Sep. 2018.
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Public Construction Spending
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August outlays for U.S. construction projects were revised to $1287.1 billion to show -0.1 % decline. Spending on public construction has climbed more then double the rate, of total construction growth by 1.5 % on the seasonally adjusted basis, nonresidential construction grew for highways, streets and commercial buildings projects. Outlays for amusement and recreation projects deteriorated. 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. Over the last 12 months, public construction outlays soared by 7.4 %.
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Construction Spending Seasonally Adjusted
( in millions $) Annual Rate |
Sep. 2019
Prel. |
Aug. 2019
Rest. |
July 2019
Prel. |
June 2019
Prel. |
May 2019
Prel. |
Total Construction |
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1,293,614 |
1,287,054 |
1,288,794 |
1,286,997 |
1,303,427 |
Residential |
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517,977 |
515,054 |
512,777 |
513,244 |
515,871 |
Nonresidential |
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775,637 |
772,000 |
776,017 |
773,753 |
787,557 |
Lodging |
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33,253 |
33,666 |
34,663 |
34,329 |
33,991 |
Office |
|
79,778 |
79,552 |
78,943 |
78,950 |
78,246 |
Commercial |
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81,957 |
82,470 |
82,552 |
83,064 |
81,965 |
Health care |
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43,605 |
43,291 |
44,761 |
42,791 |
42,933 |
Educational |
|
97,183 |
94,533 |
90,845 |
90,672 |
97,012 |
Religious |
|
2,659 |
2,719 |
2,622 |
2,751 |
2,832 |
Public safety |
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10,289 |
10,488 |
10,500 |
9,901 |
10,048 |
Amusement & recreation |
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27,170 |
28,184 |
27,802 |
27,766 |
27,644 |
Transportation |
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55,564 |
55,654 |
56,179 |
56,787 |
57,979 |
Power |
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95,581 |
96,770 |
99,518 |
98,430 |
100,045 |
Highway & street |
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98,263 |
95,759 |
97,314 |
102,209 |
109,079 |
Sewage & waste disposal |
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27,303 |
27,196 |
27,848 |
26,760 |
27,048 |
Water supply |
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17,839 |
16,905 |
17,338 |
16,084 |
16,038 |
Conservation & development |
|
9,171 |
9,405 |
9,722 |
8,963 |
8,639 |
Manufacturing |
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72,502 |
71,667 |
72,491 |
71,132 |
70,523 |
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Total Private Construction
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511,419 |
508,449 |
506,743 |
507,231 |
509,690 |
Residential |
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511,419 |
508,449 |
506,743 |
507,231 |
509,690 |
New single family |
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274,612 |
271,120 |
268,138 |
263,582 |
265,392 |
New multi-family |
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61,533 |
61,993 |
62,458 |
66,198 |
66,044 |
Nonresidential |
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450,251 |
451,410 |
456,396 |
455,712 |
457,300 |
Lodging |
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32,366 |
32,782 |
33,691 |
33,188 |
32,603 |
Office |
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69,022 |
68,799 |
68,547 |
68,184 |
67,939 |
Commercial |
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77,415 |
78,033 |
77,899 |
78,702 |
77,723 |
Health care |
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34,502 |
34,222 |
35,691 |
34,300 |
34,146 |
Educational |
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18,318 |
18,073 |
17,572 |
17,709 |
18,684 |
Religious |
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2,659 |
2,719 |
2,622 |
2,751 |
2,832 |
Amusement & recreation |
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13,429 |
13,753 |
13,951 |
14,597 |
14,576 |
Transportation |
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16,505 |
16,395 |
16,234 |
18,443 |
19,505 |
Communication |
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23,416 |
23,620 |
22,818 |
23,060 |
23,342 |
Power |
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88,944 |
90,197 |
93,596 |
92,417 |
94,383 |
Manufacturing |
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72,290 |
71,415 |
72,250 |
70,906 |
70,279 |
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Total Public Construction |
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331,944 |
327,195 |
325,655 |
324,055 |
336,437 |
Residential |
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6,558 |
6,605 |
6,035 |
6,013 |
6,180 |
Nonresidential |
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325,386 |
320,591 |
319,621 |
318,041 |
330,257 |
Office |
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10,756 |
10,753 |
10,396 |
10,766 |
10,307 |
Commercial |
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4,542 |
4,437 |
4,653 |
4,362 |
4,241 |
Health care |
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9,103 |
9,070 |
9,070 |
8,491 |
8,787 |
Educational |
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78,864 |
76,459 |
73,273 |
72,963 |
78,328 |
Public safety |
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10,078 |
10,246 |
10,269 |
9,682 |
9,834 |
Amusement & recreation |
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13,741 |
14,431 |
13,850 |
13,170 |
13,069 |
Transportation |
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39,059 |
39,259 |
39,944 |
38,344 |
38,474 |
Power |
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6,638 |
6,573 |
5,922 |
6,013 |
5,661 |
Highway & street |
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97,982 |
95,482 |
97,011 |
101,939 |
108,874 |
Sewage & waste disposal |
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26,732 |
26,647 |
27,186 |
26,082 |
26,453 |
Water supply |
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17,560 |
16,622 |
17,049 |
15,826 |
15,801 |
Conservation & development |
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9,129 |
9,354 |
9,681 |
8,932 |
8,603 |
Construction Spending by Month and Category Year on Year Growth at Annual Rate
Construction Spending Seasonally
Adjusted
Annuall Rate ( Y/Y in % ) |
Sep. 2019
Prel. |
Aug. 2019
Rest. |
July 2019
Prel. |
June 2019
Prel. |
May 2019
Prel. |
Total Construction |
-2.7 % |
-2.38 % |
-2.17 % |
-2.11 % |
-2.16 % |
Residential |
-7.89 % |
-7.32 % |
-8.39 % |
-8.04 % |
-10.7 % |
Nonresidential |
1.11 % |
1.21 % |
2.42 % |
2.26 % |
4.38 % |
Lodging |
-0.11 % |
5.99 % |
11.45 % |
8.73 % |
6.82 % |
Office |
8.8 % |
7.67 % |
8.85 % |
8.87 % |
7.67 % |
Commercial |
-10.59 % |
-9.67 % |
-10.48 % |
-10.67 % |
-11.64 % |
Health care |
2.46 % |
3.17 % |
7.79 % |
2.09 % |
1.08 % |
Educational |
0.73 % |
2.05 % |
-1.28 % |
-0.69 % |
0.14 % |
Religious |
-8.22 % |
-4.09 % |
-8.35 % |
-3.27 % |
-10.18 % |
Public safety |
7.89 % |
7.15 % |
8.01 % |
4.92 % |
8.15 % |
Amusement & recreation |
-2.95 % |
3.24 % |
4.57 % |
4.43 % |
9.5 % |
Transportation |
3.53 % |
3 % |
3.94 % |
7.45 % |
13.39 % |
Power |
-5.89 % |
-4.03 % |
-2.56 % |
-4.57 % |
-4.19 % |
Highway & street |
3.08 % |
-3.47 % |
-0.27 % |
6.54 % |
14.43 % |
Sewage & waste disposal |
22.69 % |
19.01 % |
23.95 % |
18.74 % |
20.93 % |
Water supply |
20.4 % |
6.07 % |
13.68 % |
4.6 % |
12.3 % |
Conservation & development |
-3.25 % |
-2.4 % |
7.44 % |
5.65 % |
9.15 % |
Manufacturing |
6.31 % |
12.2 % |
13.03 % |
9.9 % |
17.55 % |
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Total Private Construction
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-8.09 % |
-7.37 % |
-8.37 % |
-8.06 % |
-10.72 % |
Residential |
-8.09 % |
-7.37 % |
-8.37 % |
-8.06 % |
-10.72 % |
New single family |
-3.05 % |
-4.84 % |
-6.52 % |
-8.53 % |
-8.03 % |
New multi-family |
-4.2 % |
5.88 % |
4.86 % |
11.54 % |
7.19 % |
Nonresidential |
-2.95 % |
-0.32 % |
0.55 % |
-0.45 % |
0.95 % |
Lodging |
1.16 % |
8.41 % |
11.9 % |
8.1 % |
6.36 % |
Office |
7.41 % |
8.35 % |
8.8 % |
8.7 % |
7.88 % |
Commercial |
-12.15 % |
-11.23 % |
-12.16 % |
-11.96 % |
-13.2 % |
Health care |
3.59 % |
7.58 % |
13.32 % |
5.72 % |
3.79 % |
Educational |
-16.39 % |
-10.94 % |
-13.74 % |
-15.28 % |
-9.28 % |
Religious |
-8.22 % |
-4.09 % |
-8.35 % |
-3.27 % |
-10.18 % |
Amusement & recreation |
-12.42 % |
-8.06 % |
-5.01 % |
-0.61 % |
3.61 % |
Transportation |
-7.94 % |
-8.36 % |
-8.07 % |
5.47 % |
16.23 % |
Communication |
-1.68 % |
-3.83 % |
-6.47 % |
-5.4 % |
-5.46 % |
Power |
-6.89 % |
-4.66 % |
-2.36 % |
-4.86 % |
-3.12 % |
Manufacturing |
6.66 % |
12.86 % |
13.36 % |
10.5 % |
18.12 % |
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Total Public Construction |
7.39 % |
3.3 % |
4.87 % |
6.12 % |
9.14 % |
Residential |
11.21 % |
-3.7 % |
-10.22 % |
-7.01 % |
-8.76 % |
Nonresidential |
7.32 % |
3.46 % |
5.21 % |
6.4 % |
9.55 % |
Office |
18.72 % |
3.5 % |
9.19 % |
9.97 % |
6.31 % |
Commercial |
28.2 % |
30.46 % |
31.63 % |
21.5 % |
31.67 % |
Health care |
-1.58 % |
-10.65 % |
-9.6 % |
-10.33 % |
-8.22 % |
Educational |
5.77 % |
5.7 % |
2.26 % |
3.64 % |
2.69 % |
Public safety |
7.32 % |
6.25 % |
7.59 % |
4.25 % |
6.87 % |
Amusement & recreation |
8.5 % |
16.94 % |
16.38 % |
10.67 % |
16.91 % |
Transportation |
9.29 % |
8.62 % |
9.76 % |
8.44 % |
12 % |
Power |
9.94 % |
5.44 % |
-5.69 % |
-0.02 % |
-19.04 % |
Highway & street |
2.95 % |
-3.57 % |
-0.32 % |
6.43 % |
14.45 % |
Sewage & waste disposal |
23.12 % |
18.54 % |
23.04 % |
17.67 % |
19.79 % |
Water supply |
20.19 % |
6.05 % |
13.4 % |
4.24 % |
11.65 % |
Conservation & development |
-3.51 % |
-2.77 % |
7.2 % |
5.53 % |
9.01 % |
Construction Spending by Month and Category Month on Month Growth at Annual Rate
Construction Spending Seasonally
Adjusted
Annuall Rate ( M/M in % ) |
Sep. 2019
Prel. |
Aug. 2019
Rest. |
July 2019
Prel. |
June 2019
Prel. |
May 2019
Prel. |
Total Construction |
0.51 % |
-0.14 % |
0.14 % |
-1.26 % |
0.38 % |
Residential |
0.57 % |
0.44 % |
-0.09 % |
-0.51 % |
1.97 % |
Nonresidential |
0.47 % |
-0.52 % |
0.29 % |
-1.75 % |
-0.64 % |
Lodging |
-1.23 % |
-2.88 % |
0.97 % |
0.99 % |
5.04 % |
Office |
0.28 % |
0.77 % |
-0.01 % |
0.9 % |
0.04 % |
Commercial |
-0.62 % |
-0.1 % |
-0.62 % |
1.34 % |
-4.22 % |
Health care |
0.73 % |
-3.28 % |
4.6 % |
-0.33 % |
-0.38 % |
Educational |
2.8 % |
4.06 % |
0.19 % |
-6.54 % |
-2.76 % |
Religious |
-2.21 % |
3.7 % |
-4.69 % |
-2.86 % |
-0.7 % |
Public safety |
-1.9 % |
-0.11 % |
6.05 % |
-1.46 % |
1.19 % |
Amusement & recreation |
-3.6 % |
1.37 % |
0.13 % |
0.44 % |
1.77 % |
Transportation |
-0.16 % |
-0.93 % |
-1.07 % |
-2.06 % |
4.51 % |
Power |
-1.23 % |
-2.76 % |
1.11 % |
-1.61 % |
-0.13 % |
Highway & street |
2.61 % |
-1.6 % |
-4.79 % |
-6.3 % |
-4.89 % |
Sewage & waste disposal |
0.39 % |
-2.34 % |
4.07 % |
-1.06 % |
4.43 % |
Water supply |
5.52 % |
-2.5 % |
7.8 % |
0.29 % |
-4.9 % |
Conservation & development |
-2.49 % |
-3.26 % |
8.47 % |
3.75 % |
-0.35 % |
Manufacturing |
1.17 % |
-1.14 % |
1.91 % |
0.86 % |
2.98 % |
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Total Private Construction
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0.58 % |
0.34 % |
-0.1 % |
-0.48 % |
2.08 % |
Residential |
0.58 % |
0.34 % |
-0.1 % |
-0.48 % |
2.08 % |
New single family |
1.29 % |
1.11 % |
1.73 % |
-0.68 % |
0.24 % |
New multi-family |
-0.74 % |
-0.74 % |
-5.65 % |
0.23 % |
1.87 % |
Nonresidential |
-0.26 % |
-1.09 % |
0.15 % |
-0.35 % |
0.58 % |
Lodging |
-1.27 % |
-2.7 % |
1.52 % |
1.79 % |
5.02 % |
Office |
0.32 % |
0.37 % |
0.53 % |
0.36 % |
1 % |
Commercial |
-0.79 % |
0.17 % |
-1.02 % |
1.26 % |
-3.73 % |
Health care |
0.82 % |
-4.12 % |
4.06 % |
0.45 % |
2.18 % |
Educational |
1.36 % |
2.85 % |
-0.77 % |
-5.22 % |
-5.59 % |
Religious |
-2.21 % |
3.7 % |
-4.69 % |
-2.86 % |
-0.7 % |
Amusement & recreation |
-2.36 % |
-1.42 % |
-4.43 % |
0.14 % |
1.11 % |
Transportation |
0.67 % |
0.99 % |
-11.98 % |
-5.44 % |
5.82 % |
Communication |
-0.86 % |
3.51 % |
-1.05 % |
-1.21 % |
0.28 % |
Power |
-1.39 % |
-3.63 % |
1.28 % |
-2.08 % |
0.86 % |
Manufacturing |
1.23 % |
-1.16 % |
1.9 % |
0.89 % |
2.86 % |
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Total Public Construction |
1.45 % |
0.47 % |
0.49 % |
-3.68 % |
-2.36 % |
Residential |
-0.71 % |
9.44 % |
0.37 % |
-2.7 % |
-6.14 % |
Nonresidential |
1.5 % |
0.3 % |
0.5 % |
-3.7 % |
-2.29 % |
Office |
0.03 % |
3.43 % |
-3.44 % |
4.45 % |
-5.88 % |
Commercial |
2.37 % |
-4.64 % |
6.67 % |
2.85 % |
-12.36 % |
Health care |
0.36 % |
0 % |
6.82 % |
-3.37 % |
-9.22 % |
Educational |
3.15 % |
4.35 % |
0.42 % |
-6.85 % |
-2.06 % |
Public safety |
-1.64 % |
-0.22 % |
6.06 % |
-1.55 % |
1 % |
Amusement & recreation |
-4.78 % |
4.19 % |
5.16 % |
0.77 % |
2.53 % |
Transportation |
-0.51 % |
-1.71 % |
4.17 % |
-0.34 % |
3.86 % |
Power |
0.99 % |
10.99 % |
-1.51 % |
6.22 % |
-14.23 % |
Highway & street |
2.62 % |
-1.58 % |
-4.83 % |
-6.37 % |
-4.76 % |
Sewage & waste disposal |
0.32 % |
-1.98 % |
4.23 % |
-1.4 % |
4.87 % |
Water supply |
5.64 % |
-2.5 % |
7.73 % |
0.16 % |
-4.86 % |
Conservation & development |
-2.41 % |
-3.38 % |
8.39 % |
3.82 % |
-0.42 % |
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