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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.

Construction Spending (Picture Autor: Badseed) licence GNU


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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