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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.

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 %.

	*M/M*	*Y/Y*
• Commercial	-1.12%	-6.88%
• Office	-0.69%	-0.70%
• Transportation	1.16%	4.34 %
• Power	0.72%	11.15 %
• Manufacturing	-8.43%	-15.48%
• Lodging	0.91%	-23.72%



Public Construction Spending
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.

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		1,490,387	1,459,440	1,446,877	1,414,027	1,412,823
Residential		700,173	666,990	649,813	619,761	598,556
Nonresidential		790,215	792,450	797,065	794,266	814,267
Lodging		24,268	24,050	26,218	27,893	29,039
Office		79,491	80,045	79,811	80,985	80,469
Commercial		81,069	81,989	82,485	81,330	81,478
Health care		45,326	46,838	47,553	47,059	46,894
Educational		106,418	103,033	102,732	102,768	99,588
Religious		3,146	3,183	3,143	3,058	2,722
Public safety		15,125	15,412	16,170	14,649	15,329
Amusement & recreation		25,074	25,485	26,001	26,396	26,741
Transportation		57,418	56,760	56,592	57,325	57,454
Power		115,167	114,348	115,411	115,094	118,015
Highway & street		98,647	97,769	96,052	89,543	100,941
Sewage & waste disposal		26,917	26,038	26,260	26,826	27,199
Water supply		18,415	17,969	18,400	18,880	19,568
Conservation & development		7,822	7,700	7,976	7,671	8,795
Manufacturing		63,948	69,833	69,782	72,304	76,974

Total Private Construction		691,000	658,086	640,954	610,871	589,437
Residential		691,000	658,086	640,954	610,871	589,437
New single family		365,032	341,506	324,882	305,843	287,884
New multi-family		91,369	90,024	90,007	88,134	85,407
Nonresidential		446,565	453,754	457,612	464,054	471,994
Lodging		23,324	23,036	25,076	26,812	27,946
Office		69,016	69,257	69,046	69,971	69,242
Commercial		77,003	78,345	78,609	77,549	77,591
Health care		35,741	37,030	37,542	37,677	37,274
Educational		16,184	16,300	16,280	17,423	16,951
Religious		3,132	3,176	3,142	3,053	2,722
Amusement & recreation		11,386	11,543	11,602	11,858	12,091
Transportation		15,638	14,962	14,888	15,657	15,960
Communication		21,807	21,848	22,328	22,354	22,918
Power		108,537	107,603	108,565	108,580	111,190
Manufacturing		63,624	69,542	69,475	71,922	76,589

Total Public Construction		352,822	347,600	348,311	339,102	351,392
Residential		9,172	8,904	8,859	8,890	9,119
Nonresidential		343,650	338,697	339,453	330,212	342,273
Office		10,475	10,788	10,765	11,014	11,228
Commercial		4,066	3,644	3,875	3,780	3,887
Health care		9,585	9,808	10,011	9,382	9,620
Educational		90,234	86,733	86,453	85,345	82,637
Public safety		15,019	15,318	16,072	14,565	15,210
Amusement & recreation		13,688	13,942	14,399	14,538	14,650
Transportation		41,780	41,798	41,704	41,669	41,494
Power		6,631	6,745	6,846	6,514	6,825
Highway & street		98,413	97,545	95,796	89,330	100,584
Sewage & waste disposal		26,631	25,795	25,988	26,560	26,841
Water supply		17,922	17,468	18,037	18,332	18,940
Conservation & development		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 %

Total Private Construction	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 %

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 %

Total Private Construction	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 %

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 %

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

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