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February Outlays for U.S. construction projects grew
Construction Spending
U.S. Department of Commerce reported 0.8 % increase in construction spending in February, as private construction lifts total construction outlays.
The Commerce Department announced outlays for U.S. construction projects including food services surged to the highest annual rate of $1273.1 billion by 0.8 % in February to the highest annual rate of $1273.1 billion on the seasonally adjusted basis. Higher spending for construction of offices led to increase in total construction spending.
Construction spending is closely watched by investors and economists for signs of whether the economy is growing or shrinking.
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Construction spending grew by 4.3 % over the past 12 months, as the public construction outlays increased on the slower rate than total construction spending.
Spending on private construction has climbed and accelerated by 2 % on the seasonally adjusted basis, office and manufacturing buildings construction spending went up among nonresidential outlays. Outlays for amusement and recreation projects deteriorated.
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.
Over the last 12 months, private construction outlays soared by 7.2 %.
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| Public Construction Spending
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Public construction projects spending fell by -3 % despite the increase in total construction spending, on the seasonally adjusted basis, with weakenes in nonresidential spending for health care, highway and street projects.
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.
Over the past 12 months, spending on public construction projects has climbed by 3.7 %.
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Construction Spending Seasonally Adjusted
( in millions $) Annual Rate |
Feb. 2018
Prel. |
Jan. 2018
Prel. |
Dec. 2017
Prel. |
Nov. 2017
Prel. |
Oct. 2017
Prel. |
Sep. 2017
Prel. |
| Total Construction |
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1,273,085 |
1,262,784 |
1,262,701 |
1,252,144 |
1,241,538 |
1,219,544 |
| Residential |
|
540,299 |
529,878 |
528,775 |
531,483 |
523,914 |
521,445 |
| Nonresidential |
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732,786 |
732,906 |
733,926 |
720,660 |
717,625 |
698,100 |
| Lodging |
|
31,671 |
30,933 |
30,571 |
29,182 |
30,180 |
29,960 |
| Office |
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74,238 |
70,468 |
71,412 |
68,963 |
69,079 |
67,195 |
| Commercial |
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90,860 |
88,680 |
90,333 |
88,836 |
84,250 |
85,998 |
| Health care |
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40,323 |
42,696 |
42,063 |
41,510 |
41,931 |
40,388 |
| Educational |
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96,450 |
97,767 |
96,858 |
93,873 |
100,456 |
92,197 |
| Religious |
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2,864 |
2,916 |
2,938 |
2,940 |
3,107 |
3,077 |
| Public safety |
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9,110 |
10,051 |
9,386 |
8,524 |
8,656 |
8,091 |
| Amusement & recreation |
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23,884 |
23,955 |
23,864 |
23,738 |
23,299 |
23,870 |
| Transportation |
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49,939 |
49,169 |
48,712 |
47,116 |
46,793 |
43,557 |
| Power |
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94,929 |
93,607 |
100,335 |
101,257 |
98,772 |
99,185 |
| Highway & street |
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88,646 |
92,875 |
88,957 |
88,234 |
86,994 |
84,521 |
| Sewage & waste disposal |
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20,452 |
20,653 |
20,777 |
20,697 |
19,450 |
19,294 |
| Water supply |
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11,523 |
11,408 |
11,927 |
11,515 |
11,844 |
11,508 |
| Conservation & development |
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6,887 |
7,356 |
7,605 |
7,407 |
8,209 |
7,395 |
| Manufacturing |
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67,385 |
65,236 |
64,320 |
63,353 |
61,808 |
59,017 |
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| Total Private Construction
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533,400 |
523,165 |
521,759 |
524,395 |
517,703 |
515,422 |
| Residential |
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533,400 |
523,165 |
521,759 |
524,395 |
517,703 |
515,422 |
| New single family |
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281,800 |
277,710 |
275,920 |
274,134 |
267,246 |
265,538 |
| New multi-family |
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63,843 |
61,139 |
61,956 |
61,168 |
60,903 |
62,014 |
| Nonresidential |
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448,577 |
439,568 |
446,163 |
438,228 |
432,243 |
427,308 |
| Lodging |
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30,512 |
29,512 |
28,971 |
28,123 |
28,804 |
28,467 |
| Office |
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64,360 |
61,095 |
61,729 |
59,346 |
59,487 |
58,754 |
| Commercial |
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86,948 |
84,661 |
87,029 |
85,800 |
81,059 |
82,904 |
| Health care |
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30,617 |
31,112 |
31,429 |
31,479 |
32,021 |
31,420 |
| Educational |
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21,891 |
21,028 |
21,706 |
20,858 |
21,502 |
20,298 |
| Religious |
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2,864 |
2,916 |
2,938 |
2,940 |
3,107 |
3,077 |
| Amusement & recreation |
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13,520 |
13,844 |
13,521 |
13,157 |
13,209 |
13,639 |
| Transportation |
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18,000 |
18,028 |
17,723 |
16,929 |
16,628 |
14,830 |
| Communication |
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23,546 |
25,018 |
23,744 |
23,371 |
22,661 |
22,743 |
| Power |
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88,958 |
87,335 |
93,077 |
92,746 |
91,962 |
92,482 |
| Manufacturing |
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66,840 |
64,501 |
63,713 |
62,852 |
61,201 |
58,227 |
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| Total Public Construction |
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291,109 |
300,051 |
294,779 |
289,521 |
291,592 |
276,815 |
| Residential |
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6,900 |
6,713 |
7,016 |
7,088 |
6,210 |
6,023 |
| Nonresidential |
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284,209 |
293,337 |
287,763 |
282,432 |
285,382 |
270,792 |
| Office |
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9,878 |
9,372 |
9,684 |
9,617 |
9,592 |
8,441 |
| Commercial |
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3,911 |
4,019 |
3,305 |
3,037 |
3,191 |
3,094 |
| Health care |
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9,706 |
11,585 |
10,633 |
10,031 |
9,910 |
8,968 |
| Educational |
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74,559 |
76,739 |
75,152 |
73,015 |
78,953 |
71,899 |
| Public safety |
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9,038 |
10,007 |
9,288 |
8,429 |
8,535 |
8,059 |
| Amusement & recreation |
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10,364 |
10,111 |
10,343 |
10,580 |
10,090 |
10,231 |
| Transportation |
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31,939 |
31,141 |
30,989 |
30,187 |
30,165 |
28,727 |
| Power |
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5,971 |
6,272 |
7,258 |
8,511 |
6,809 |
6,703 |
| Highway & street |
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88,462 |
92,649 |
88,758 |
88,028 |
86,823 |
84,313 |
| Sewage & waste disposal |
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20,357 |
20,524 |
20,638 |
20,557 |
19,344 |
19,196 |
| Water supply |
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11,381 |
11,286 |
11,785 |
11,335 |
11,648 |
11,394 |
| Conservation & development |
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6,857 |
7,356 |
7,600 |
7,400 |
8,202 |
7,381 |
Construction Spending by Month and Category Year on Year Growth at Annual Rate
Construction Spending Seasonally
Adjusted
Annuall Rate ( Y/Y in % ) |
Feb. 2018
Prel. |
Jan. 2018
Prel. |
Dec. 2017
Prel. |
Nov. 2017
Prel. |
Oct. 2017
Prel. |
Sep. 2017
Prel. |
| Total Construction |
4.29 % |
6.99 % |
5.92 % |
5.72 % |
5.88 % |
6.05 % |
| Residential |
7.26 % |
9.96 % |
10.05 % |
12.75 % |
10.78 % |
13.48 % |
| Nonresidential |
2.2 % |
4.93 % |
3.13 % |
1.07 % |
2.56 % |
1.1 % |
| Lodging |
12.36 % |
7.8 % |
6.8 % |
1.96 % |
10.01 % |
3.99 % |
| Office |
-1.31 % |
-6.07 % |
-6.42 % |
-8.13 % |
-2.35 % |
-4.97 % |
| Commercial |
9.03 % |
10.96 % |
12.01 % |
13.54 % |
13.74 % |
19.82 % |
| Health care |
-0.97 % |
3.94 % |
0.81 % |
-0.3 % |
1.34 % |
-1.51 % |
Educational |
2.65 % |
8.95 % |
5.24 % |
1.35 % |
8.69 % |
5.88 % |
| Religious |
-18.12 % |
-12.41 % |
-16.18 % |
-19.65 % |
-5.45 % |
-17.4 % |
| Public safety |
11.86 % |
37.61 % |
7.13 % |
5.43 % |
4.72 % |
4.67 % |
| Amusement & recreation |
2.88 % |
8.03 % |
6.17 % |
3.86 % |
7.47 % |
11.62 % |
Transportation |
21.83 % |
25.94 % |
16.69 % |
10.28 % |
10.94 % |
4.57 % |
| Power |
-5.01 % |
-3.49 % |
5.05 % |
9.49 % |
6.92 % |
4.3 % |
| Highway & street |
-3.03 % |
6.76 % |
-0.99 % |
-7.25 % |
-5.16 % |
-2.64 % |
| Sewage & waste disposal |
3.73 % |
10.11 % |
5.7 % |
1.04 % |
-8.26 % |
-2.12 % |
Water supply |
9.05 % |
8.17 % |
-0.04 % |
-2.85 % |
-0.29 % |
0.14 % |
| Conservation & development |
-3.3 % |
3.61 % |
0.07 % |
-7.23 % |
5.1 % |
-1.99 % |
Manufacturing |
-2.55 % |
-6.88 % |
-7.72 % |
-10.86 % |
-16.34 % |
-23.71 % |
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| Total Private Construction
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7.23 % |
9.82 % |
10.08 % |
12.83 % |
11.04 % |
13.61 % |
| Residential |
7.23 % |
9.82 % |
10.08 % |
12.83 % |
11.04 % |
13.61 % |
| Nonresidential |
1.34 % |
0.99 % |
2.47 % |
1.9 % |
3.01 % |
0.31 % |
| Lodging |
9.62 % |
4.14 % |
2.4 % |
-0.24 % |
6.04 % |
-0.13 % |
| Office |
-4.48 % |
-10.03 % |
-9.51 % |
-10.91 % |
-5.08 % |
-6.86 % |
| Commercial |
8.46 % |
9.83 % |
12.36 % |
14.34 % |
14.72 % |
20.57 % |
| Health care |
-5.07 % |
-5.8 % |
-5.06 % |
-4.04 % |
-1.66 % |
-2.29 % |
| Educational |
-1.94 % |
2.63 % |
3.86 % |
-0.6 % |
6.37 % |
-0.77 % |
| Religious |
-18.12 % |
-12.41 % |
-16.18 % |
-19.65 % |
-5.45 % |
-17.4 % |
| Amusement & recreation |
8.07 % |
13.8 % |
7.49 % |
3.9 % |
8.37 % |
12.77 % |
| Transportation |
55.63 % |
61.32 % |
55.08 % |
34.14 % |
33.63 % |
13.31 % |
| Communication |
8.42 % |
15.71 % |
10.78 % |
14.31 % |
17.65 % |
22.78 % |
| Power |
-5.32 % |
-2.8 % |
5.01 % |
8.18 % |
8.21 % |
4.83 % |
| Manufacturing |
-2.54 % |
-7.15 % |
-7.75 % |
-10.89 % |
-16.58 % |
-23.96 % |
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| Total Public Construction |
3.73 % |
11.67 % |
4.25 % |
-0.03 % |
1.68 % |
2.39 % |
| Residential |
9.56 % |
22.12 % |
8.31 % |
7.56 % |
-7.22 % |
3.08 % |
| Nonresidential |
3.59 % |
11.45 % |
4.15 % |
-0.2 % |
1.89 % |
2.38 % |
| Office |
25.91 % |
31.67 % |
19.61 % |
13.72 % |
18.8 % |
10.66 % |
| Commercial |
23.45 % |
41.76 % |
3.51 % |
-5.27 % |
-6.53 % |
2.79 % |
| Health care |
14.62 % |
43.93 % |
23.34 % |
13.58 % |
12.45 % |
1.32 % |
| Educational |
4.08 % |
10.83 % |
5.64 % |
1.92 % |
9.34 % |
7.93 % |
Public safety |
12.68 % |
39.35 % |
7.57 % |
5.51 % |
4.37 % |
5.53 % |
| Amusement & recreation |
-3.19 % |
1.02 % |
4.49 % |
3.79 % |
6.31 % |
10.13 % |
| Transportation |
8.55 % |
11.75 % |
2.21 % |
0.27 % |
1.44 % |
0.57 % |
| Power |
-0.18 % |
-12.16 % |
5.66 % |
26.13 % |
-7.86 % |
-2.52 % |
Highway & street |
-2.88 % |
6.84 % |
-0.99 % |
-7.29 % |
-5.16 % |
-2.68 % |
| Sewage & waste disposal |
4.32 % |
10.42 % |
6.36 % |
1.97 % |
-7.29 % |
-0.8 % |
| Water supply |
9.62 % |
8.85 % |
-0.08 % |
-3.31 % |
-0.77 % |
0.28 % |
Conservation & development |
-3.41 % |
4.31 % |
0.68 % |
-6.78 % |
5.85 % |
-1.49 % |
Construction Spending by Month and Category Month on Month Growth at Annual Rate
Construction Spending Seasonally
Adjusted
Annuall Rate ( M/M in % ) |
Feb. 2018
Prel. |
Jan. 2018
Prel. |
Dec. 2017
Prel. |
Nov. 2017
Prel. |
Oct. 2017
Prel. |
Sep. 2017
Prel. |
| Total Construction |
0.82 % |
0.01 % |
0.84 % |
0.85 % |
1.8 % |
0.29 % |
| Residential |
1.97 % |
0.21 % |
-0.51 % |
1.44 % |
0.47 % |
0.02 % |
| Nonresidential |
-0.02 % |
-0.14 % |
1.84 % |
0.42 % |
2.8 % |
0.5 % |
| Lodging |
2.39 % |
1.18 % |
4.76 % |
-3.31 % |
0.73 % |
0.93 % |
| Office |
5.35 % |
-1.32 % |
3.55 % |
-0.17 % |
2.8 % |
-1.19 % |
| Commercial |
2.46 % |
-1.83 % |
1.69 % |
5.44 % |
-2.03 % |
-1.09 % |
| Health care |
-5.56 % |
1.5 % |
1.33 % |
-1 % |
3.82 % |
-0.27 % |
Educational |
-1.35 % |
0.94 % |
3.18 % |
-6.55 % |
8.96 % |
5.36 % |
| Religious |
-1.78 % |
-0.75 % |
-0.07 % |
-5.37 % |
0.97 % |
-3.48 % |
| Public safety |
-9.36 % |
7.09 % |
10.11 % |
-1.52 % |
6.98 % |
-0.23 % |
| Amusement & recreation |
-0.3 % |
0.38 % |
0.53 % |
1.88 % |
-2.39 % |
1.57 % |
Transportation |
1.57 % |
0.94 % |
3.39 % |
0.69 % |
7.43 % |
3.63 % |
| Power |
1.41 % |
-6.71 % |
-0.91 % |
2.52 % |
-0.42 % |
-0.67 % |
| Highway & street |
-4.55 % |
4.4 % |
0.82 % |
1.43 % |
2.93 % |
1.03 % |
| Sewage & waste disposal |
-0.97 % |
-0.6 % |
0.39 % |
6.41 % |
0.81 % |
-0.42 % |
Water supply |
1.01 % |
-4.35 % |
3.58 % |
-2.78 % |
2.92 % |
-1.08 % |
| Conservation & development |
-6.38 % |
-3.27 % |
2.67 % |
-9.77 % |
11.01 % |
12.32 % |
Manufacturing |
3.29 % |
1.42 % |
1.53 % |
2.5 % |
4.73 % |
-3.43 % |
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| Total Private Construction
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1.96 % |
0.27 % |
-0.5 % |
1.29 % |
0.44 % |
-0.04 % |
| Residential |
1.96 % |
0.27 % |
-0.5 % |
1.29 % |
0.44 % |
-0.04 % |
| New single family |
1.47 % |
0.65 % |
0.65 % |
2.58 % |
0.64 % |
0.19 % |
| New multi-family |
4.42 % |
-1.32 % |
1.29 % |
0.44 % |
-1.79 % |
0.61 % |
| Nonresidential |
2.05 % |
-1.48 % |
1.81 % |
1.38 % |
1.15 % |
-0.76 % |
| Lodging |
3.39 % |
1.87 % |
3.02 % |
-2.36 % |
1.18 % |
0.73 % |
| Office |
5.34 % |
-1.03 % |
4.02 % |
-0.24 % |
1.25 % |
-1.13 % |
| Commercial |
2.7 % |
-2.72 % |
1.43 % |
5.85 % |
-2.23 % |
-0.97 % |
| Health care |
-1.59 % |
-1.01 % |
-0.16 % |
-1.69 % |
1.91 % |
1.97 % |
| Educational |
4.1 % |
-3.12 % |
4.07 % |
-3 % |
5.93 % |
5.88 % |
| Religious |
-1.78 % |
-0.75 % |
-0.07 % |
-5.37 % |
0.97 % |
-3.48 % |
| Amusement & recreation |
-2.34 % |
2.39 % |
2.77 % |
-0.39 % |
-3.15 % |
-0.09 % |
| Transportation |
-0.16 % |
1.72 % |
4.69 % |
1.81 % |
12.12 % |
1.1 % |
| Communication |
-5.88 % |
5.37 % |
1.6 % |
3.13 % |
-0.36 % |
-0.22 % |
| Power |
1.86 % |
-6.17 % |
0.36 % |
0.85 % |
-0.56 % |
-1.43 % |
| Manufacturing |
3.63 % |
1.24 % |
1.37 % |
2.7 % |
5.11 % |
-3.6 % |
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| Total Public Construction |
-2.98 % |
1.79 % |
1.82 % |
-0.71 % |
5.34 % |
2.6 % |
| Residential |
2.79 % |
-4.32 % |
-1.02 % |
14.14 % |
3.1 % |
5.13 % |
| Nonresidential |
-3.11 % |
1.94 % |
1.89 % |
-1.03 % |
5.39 % |
2.55 % |
| Office |
5.4 % |
-3.22 % |
0.7 % |
0.26 % |
13.64 % |
-1.64 % |
| Commercial |
-2.69 % |
21.6 % |
8.82 % |
-4.83 % |
3.14 % |
-4.33 % |
| Health care |
-16.22 % |
8.95 % |
6 % |
1.22 % |
10.5 % |
-7.41 % |
| Educational |
-2.84 % |
2.11 % |
2.93 % |
-7.52 % |
9.81 % |
5.22 % |
Public safety |
-9.68 % |
7.74 % |
10.19 % |
-1.24 % |
5.91 % |
-0.16 % |
| Amusement & recreation |
2.5 % |
-2.24 % |
-2.24 % |
4.86 % |
-1.38 % |
3.88 % |
| Transportation |
2.56 % |
0.49 % |
2.66 % |
0.07 % |
5.01 % |
4.98 % |
| Power |
-4.8 % |
-13.59 % |
-14.72 % |
25 % |
1.58 % |
11.03 % |
Highway & street |
-4.52 % |
4.38 % |
0.83 % |
1.39 % |
2.98 % |
1.1 % |
| Sewage & waste disposal |
-0.81 % |
-0.55 % |
0.39 % |
6.27 % |
0.77 % |
-0.14 % |
| Water supply |
0.84 % |
-4.23 % |
3.97 % |
-2.69 % |
2.23 % |
-0.43 % |
Conservation & development |
-6.78 % |
-3.21 % |
2.7 % |
-9.78 % |
11.12 % |
12.58 % |
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