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Construction spending accelerate in December
Construction Spending
The rate of growth in construction outlays accelerated due to increase in . In December Construction spending has climbed by 2.1 % on the seasonally adjusted basis to the highest annual rate of $1490.4 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.
Improving rate in construction spending growth is good news, as increase in longterm investments show growing optimism.
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From the same month a year ago, construction spending jumped by 10.8 % led by increase in residential construction by 27.1 %. Private construction outlays soared by 5 % on the seasonally adjusted basis. Investors usually view the private construction spending as a better gauge of economic cycle, because it excludes public stimulus spending. From the same month a year ago, private construction outlays jumped by 27.1 %.
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Public Construction Spending
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Spending on public construction has climbed more then double the rate, of total construction growth by 1.5 % on the seasonally adjusted basis. Investors usually view the private construction spending as a better gauge of economic cycle, because it excludes public stimulus spending. Government construction outlays grew by 4.4 % over the past 12 months.
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Construction Spending Seasonally Adjusted
( in millions $) Annual Rate |
Dec. 2020
Prel. |
Nov. 2020
Prel. |
Oct. 2020
Rest. |
Sep. 2020
Prel. |
Aug. 2020
Prel. |
Total Construction |
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1,490,387 |
1,459,440 |
1,446,877 |
1,414,027 |
1,412,823 |
Residential |
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700,173 |
666,990 |
649,813 |
619,761 |
598,556 |
Nonresidential |
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790,215 |
792,450 |
797,065 |
794,266 |
814,267 |
Lodging |
|
24,268 |
24,050 |
26,218 |
27,893 |
29,039 |
Office |
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79,491 |
80,045 |
79,811 |
80,985 |
80,469 |
Commercial |
|
81,069 |
81,989 |
82,485 |
81,330 |
81,478 |
Health care |
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45,326 |
46,838 |
47,553 |
47,059 |
46,894 |
Educational |
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106,418 |
103,033 |
102,732 |
102,768 |
99,588 |
Religious |
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3,146 |
3,183 |
3,143 |
3,058 |
2,722 |
Public safety |
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15,125 |
15,412 |
16,170 |
14,649 |
15,329 |
Amusement & recreation |
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25,074 |
25,485 |
26,001 |
26,396 |
26,741 |
Transportation |
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57,418 |
56,760 |
56,592 |
57,325 |
57,454 |
Power |
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115,167 |
114,348 |
115,411 |
115,094 |
118,015 |
Highway & street |
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98,647 |
97,769 |
96,052 |
89,543 |
100,941 |
Sewage & waste disposal |
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26,917 |
26,038 |
26,260 |
26,826 |
27,199 |
Water supply |
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18,415 |
17,969 |
18,400 |
18,880 |
19,568 |
Conservation & development |
|
7,822 |
7,700 |
7,976 |
7,671 |
8,795 |
Manufacturing |
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63,948 |
69,833 |
69,782 |
72,304 |
76,974 |
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Total Private Construction
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691,000 |
658,086 |
640,954 |
610,871 |
589,437 |
Residential |
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691,000 |
658,086 |
640,954 |
610,871 |
589,437 |
New single family |
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365,032 |
341,506 |
324,882 |
305,843 |
287,884 |
New multi-family |
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91,369 |
90,024 |
90,007 |
88,134 |
85,407 |
Nonresidential |
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446,565 |
453,754 |
457,612 |
464,054 |
471,994 |
Lodging |
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23,324 |
23,036 |
25,076 |
26,812 |
27,946 |
Office |
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69,016 |
69,257 |
69,046 |
69,971 |
69,242 |
Commercial |
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77,003 |
78,345 |
78,609 |
77,549 |
77,591 |
Health care |
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35,741 |
37,030 |
37,542 |
37,677 |
37,274 |
Educational |
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16,184 |
16,300 |
16,280 |
17,423 |
16,951 |
Religious |
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3,132 |
3,176 |
3,142 |
3,053 |
2,722 |
Amusement & recreation |
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11,386 |
11,543 |
11,602 |
11,858 |
12,091 |
Transportation |
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15,638 |
14,962 |
14,888 |
15,657 |
15,960 |
Communication |
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21,807 |
21,848 |
22,328 |
22,354 |
22,918 |
Power |
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108,537 |
107,603 |
108,565 |
108,580 |
111,190 |
Manufacturing |
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63,624 |
69,542 |
69,475 |
71,922 |
76,589 |
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Total Public Construction |
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352,822 |
347,600 |
348,311 |
339,102 |
351,392 |
Residential |
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9,172 |
8,904 |
8,859 |
8,890 |
9,119 |
Nonresidential |
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343,650 |
338,697 |
339,453 |
330,212 |
342,273 |
Office |
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10,475 |
10,788 |
10,765 |
11,014 |
11,228 |
Commercial |
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4,066 |
3,644 |
3,875 |
3,780 |
3,887 |
Health care |
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9,585 |
9,808 |
10,011 |
9,382 |
9,620 |
Educational |
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90,234 |
86,733 |
86,453 |
85,345 |
82,637 |
Public safety |
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15,019 |
15,318 |
16,072 |
14,565 |
15,210 |
Amusement & recreation |
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13,688 |
13,942 |
14,399 |
14,538 |
14,650 |
Transportation |
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41,780 |
41,798 |
41,704 |
41,669 |
41,494 |
Power |
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6,631 |
6,745 |
6,846 |
6,514 |
6,825 |
Highway & street |
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98,413 |
97,545 |
95,796 |
89,330 |
100,584 |
Sewage & waste disposal |
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26,631 |
25,795 |
25,988 |
26,560 |
26,841 |
Water supply |
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17,922 |
17,468 |
18,037 |
18,332 |
18,940 |
Conservation & development |
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7,768 |
7,649 |
7,905 |
7,583 |
8,736 |
Construction Spending by Month and Category Year on Year Growth at Annual Rate
Construction Spending Seasonally
Adjusted
Annuall Rate ( Y/Y in % ) |
Dec. 2020
Prel. |
Nov. 2020
Prel. |
Oct. 2020
Rest. |
Sep. 2020
Prel. |
Aug. 2020
Prel. |
Total Construction |
10.77 % |
8.71 % |
9.88 % |
9.31 % |
9.77 % |
Residential |
27.07 % |
22.87 % |
21.82 % |
19.65 % |
16.21 % |
Nonresidential |
-0.53 % |
-0.9 % |
1.75 % |
2.4 % |
5.48 % |
Lodging |
-23.72 % |
-25.75 % |
-20.87 % |
-16.12 % |
-13.74 % |
Office |
-0.7 % |
-0.34 % |
-0.31 % |
1.51 % |
1.15 % |
Commercial |
-6.88 % |
-6.76 % |
-1.89 % |
-0.77 % |
-1.2 % |
Health care |
2.4 % |
5.68 % |
8.84 % |
7.92 % |
8.32 % |
Educational |
8 % |
3.15 % |
0.29 % |
5.75 % |
5.35 % |
Religious |
7.89 % |
1.5 % |
8.19 % |
15.01 % |
0.11 % |
Public safety |
39.04 % |
42.58 % |
45.77 % |
42.38 % |
46.16 % |
Amusement & recreation |
-8.34 % |
-8.68 % |
-3.84 % |
-2.85 % |
-5.12 % |
Transportation |
4.34 % |
3.04 % |
2.94 % |
3.17 % |
3.23 % |
Power |
11.15 % |
11.25 % |
17.34 % |
20.42 % |
21.95 % |
Highway & street |
-0.25 % |
2.29 % |
1.43 % |
-8.87 % |
5.41 % |
Sewage & waste disposal |
0.85 % |
-1.84 % |
-3.25 % |
-1.75 % |
0.01 % |
Water supply |
2.2 % |
-1.56 % |
4.38 % |
5.84 % |
15.75 % |
Conservation & development |
-21.26 % |
-21.39 % |
-18.36 % |
-16.36 % |
-6.49 % |
Manufacturing |
-15.48 % |
-14.25 % |
-4.75 % |
-0.27 % |
7.41 % |
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Total Private Construction
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27.12 % |
22.83 % |
21.77 % |
19.45 % |
15.93 % |
Residential |
27.12 % |
22.83 % |
21.77 % |
19.45 % |
15.93 % |
New single family |
26.04 % |
21.21 % |
17.09 % |
11.37 % |
6.18 % |
New multi-family |
59.55 % |
53.47 % |
52.29 % |
43.23 % |
37.77 % |
Nonresidential |
-3.77 % |
-3.66 % |
0.63 % |
3.07 % |
4.56 % |
Lodging |
-23.79 % |
-25.75 % |
-21.43 % |
-17.16 % |
-14.75 % |
Office |
0.36 % |
0.92 % |
0.31 % |
1.37 % |
0.64 % |
Commercial |
-7.15 % |
-6.84 % |
-1.14 % |
0.17 % |
-0.57 % |
Health care |
1.41 % |
5.03 % |
7.5 % |
9.2 % |
8.92 % |
Educational |
-8.06 % |
-10.32 % |
-11.76 % |
-4.89 % |
-6.21 % |
Religious |
7.41 % |
1.28 % |
8.16 % |
14.82 % |
0.11 % |
Amusement & recreation |
-14.22 % |
-16.13 % |
-12.82 % |
-11.7 % |
-12.08 % |
Transportation |
-4.17 % |
-7.36 % |
-8.88 % |
-5.14 % |
-2.65 % |
Communication |
-7.64 % |
-6.54 % |
-2.91 % |
-4.54 % |
-2.97 % |
Power |
13.1 % |
13.47 % |
19.12 % |
22.08 % |
23.27 % |
Manufacturing |
-15.65 % |
-14.23 % |
-4.74 % |
-0.51 % |
7.24 % |
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Total Public Construction |
4.44 % |
3.53 % |
3.76 % |
2.16 % |
7.4 % |
Residential |
23.11 % |
25.87 % |
25.39 % |
35.56 % |
38.06 % |
Nonresidential |
4.02 % |
3.05 % |
3.3 % |
1.48 % |
6.76 % |
Office |
-7.1 % |
-7.73 % |
-4.1 % |
2.4 % |
4.42 % |
Commercial |
-1.6 % |
-4.96 % |
-14.97 % |
-16.78 % |
-12.4 % |
Health care |
6.28 % |
8.21 % |
14.19 % |
3.06 % |
6.06 % |
Educational |
11.49 % |
6.15 % |
2.94 % |
8.22 % |
8.08 % |
Public safety |
39.91 % |
43.56 % |
46.59 % |
44.52 % |
48.45 % |
Amusement & recreation |
-2.79 % |
-1.44 % |
4.86 % |
5.8 % |
1.52 % |
Transportation |
7.93 % |
7.35 % |
7.94 % |
6.68 % |
5.69 % |
Power |
-13.27 % |
-15.21 % |
-5.17 % |
-1.87 % |
3.83 % |
Highway & street |
-0.15 % |
2.38 % |
1.57 % |
-8.83 % |
5.34 % |
Sewage & waste disposal |
1.86 % |
-0.65 % |
-2.15 % |
-0.64 % |
0.73 % |
Water supply |
1.13 % |
-2.33 % |
4.06 % |
4.4 % |
13.95 % |
Conservation & development |
-21.14 % |
-21.1 % |
-18.43 % |
-16.94 % |
-6.61 % |
Construction Spending by Month and Category Month on Month Growth at Annual Rate
Construction Spending Seasonally
Adjusted
Annuall Rate ( M/M in % ) |
Dec. 2020
Prel. |
Nov. 2020
Prel. |
Oct. 2020
Rest. |
Sep. 2020
Prel. |
Aug. 2020
Prel. |
Total Construction |
2.12 % |
0.87 % |
2.32 % |
0.09 % |
3.54 % |
Residential |
4.98 % |
2.64 % |
4.85 % |
3.54 % |
7.76 % |
Nonresidential |
-0.28 % |
-0.58 % |
0.35 % |
-2.46 % |
0.64 % |
Lodging |
0.91 % |
-8.27 % |
-6.01 % |
-3.95 % |
1.46 % |
Office |
-0.69 % |
0.29 % |
-1.45 % |
0.64 % |
-1 % |
Commercial |
-1.12 % |
-0.6 % |
1.42 % |
-0.18 % |
-0.66 % |
Health care |
-3.23 % |
-1.5 % |
1.05 % |
0.35 % |
1.37 % |
Educational |
3.29 % |
0.29 % |
-0.04 % |
3.19 % |
1.27 % |
Religious |
-1.16 % |
1.27 % |
2.78 % |
12.34 % |
-1.87 % |
Public safety |
-1.86 % |
-4.69 % |
10.38 % |
-4.44 % |
-5.52 % |
Amusement & recreation |
-1.61 % |
-1.98 % |
-1.5 % |
-1.29 % |
-0.75 % |
Transportation |
1.16 % |
0.3 % |
-1.28 % |
-0.22 % |
-0.28 % |
Power |
0.72 % |
-0.92 % |
0.28 % |
-2.48 % |
-0.14 % |
Highway & street |
0.9 % |
1.79 % |
7.27 % |
-11.29 % |
1.73 % |
Sewage & waste disposal |
3.38 % |
-0.85 % |
-2.11 % |
-1.37 % |
-1.52 % |
Water supply |
2.48 % |
-2.34 % |
-2.54 % |
-3.52 % |
3.33 % |
Conservation & development |
1.58 % |
-3.46 % |
3.98 % |
-12.78 % |
-5.22 % |
Manufacturing |
-8.43 % |
0.07 % |
-3.49 % |
-6.07 % |
5.79 % |
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Total Private Construction
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5 % |
2.67 % |
4.92 % |
3.64 % |
7.84 % |
Residential |
5 % |
2.67 % |
4.92 % |
3.64 % |
7.84 % |
New single family |
6.89 % |
5.12 % |
6.23 % |
6.24 % |
7.41 % |
New multi-family |
1.49 % |
0.02 % |
2.13 % |
3.19 % |
-0.41 % |
Nonresidential |
-1.58 % |
-0.84 % |
-1.39 % |
-1.68 % |
1.1 % |
Lodging |
1.25 % |
-8.14 % |
-6.47 % |
-4.06 % |
1.44 % |
Office |
-0.35 % |
0.31 % |
-1.32 % |
1.05 % |
-0.38 % |
Commercial |
-1.71 % |
-0.34 % |
1.37 % |
-0.05 % |
-0.33 % |
Health care |
-3.48 % |
-1.36 % |
-0.36 % |
1.08 % |
1.24 % |
Educational |
-0.71 % |
0.12 % |
-6.56 % |
2.78 % |
4.91 % |
Religious |
-1.39 % |
1.08 % |
2.92 % |
12.16 % |
-1.87 % |
Amusement & recreation |
-1.36 % |
-0.51 % |
-2.16 % |
-1.93 % |
-1.02 % |
Transportation |
4.52 % |
0.5 % |
-4.91 % |
-1.9 % |
-2.54 % |
Communication |
-0.19 % |
-2.15 % |
-0.12 % |
-2.46 % |
0.1 % |
Power |
0.87 % |
-0.89 % |
-0.01 % |
-2.35 % |
0.19 % |
Manufacturing |
-8.51 % |
0.1 % |
-3.4 % |
-6.09 % |
5.7 % |
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Total Public Construction |
1.5 % |
-0.2 % |
2.72 % |
-3.5 % |
0.08 % |
Residential |
3.01 % |
0.51 % |
-0.35 % |
-2.51 % |
2.99 % |
Nonresidential |
1.46 % |
-0.22 % |
2.8 % |
-3.52 % |
0.01 % |
Office |
-2.9 % |
0.21 % |
-2.26 % |
-1.91 % |
-4.62 % |
Commercial |
11.58 % |
-5.96 % |
2.51 % |
-2.75 % |
-6.79 % |
Health care |
-2.27 % |
-2.03 % |
6.7 % |
-2.47 % |
1.89 % |
Educational |
4.04 % |
0.32 % |
1.3 % |
3.28 % |
0.55 % |
Public safety |
-1.95 % |
-4.69 % |
10.35 % |
-4.24 % |
-5.57 % |
Amusement & recreation |
-1.82 % |
-3.17 % |
-0.96 % |
-0.76 % |
-0.52 % |
Transportation |
-0.04 % |
0.23 % |
0.08 % |
0.42 % |
0.62 % |
Power |
-1.69 % |
-1.48 % |
5.1 % |
-4.56 % |
-5.2 % |
Highway & street |
0.89 % |
1.83 % |
7.24 % |
-11.19 % |
1.64 % |
Sewage & waste disposal |
3.24 % |
-0.74 % |
-2.15 % |
-1.05 % |
-1.55 % |
Water supply |
2.6 % |
-3.15 % |
-1.61 % |
-3.21 % |
2.73 % |
Conservation & development |
1.56 % |
-3.24 % |
4.25 % |
-13.2 % |
-5.37 % |
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