|
|
In September growth in construction spending slows
Construction Spending
Outlays for U.S. construction projects continue to grow but on the slower pace, mainly because of falling construction outlays for highways and streets by -11.3 %.
The Commerce Department announced outlays for U.S. construction projects increased a slim 0.1 % in September on the seasonally adjusted basis the highest annual rate of $1414 billion. 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.
|
 |
|
From the same month a year ago, construction spending jumped by 9.3 % led by increase in residential construction by 19.7 %.
Spending on private construction projects jumped by 3.6 % on the seasonally adjusted basis.
Private residential spending is one of the major econmic indicators, represents now 43.83 % of total construction spending. Residential spending exerts a sizable influence because so many raw materials and finished goods are required to build homes and furnish them.
From the same month a year ago, private construction outlays jumped by 19.4 %.
|
|
| |
|
|
| Public Construction Spending
|
Spending on public construction projects deteriorated despite the increase in total construction spending, by -3.5 % on the seasonally adjusted basis.
Private residential spending is one of the major econmic indicators, represents now 43.83 % of total construction spending. Residential spending exerts a sizable influence because so many raw materials and finished goods are required to build homes and furnish them.
Outlays for public construction projects advanced by 2.2 % for the year.
|
Construction Spending Seasonally Adjusted
( in millions $) Annual Rate |
Sep. 2020
Prel. |
Aug. 2020
Prel. |
July 2020
Prel. |
June 2020
Rest. |
May 2020
Prel. |
| Total Construction |
|
1,414,027 |
1,412,823 |
1,364,565 |
1,364,565 |
1,356,409 |
| Residential |
|
619,761 |
598,556 |
555,454 |
555,454 |
543,900 |
| Nonresidential |
|
794,266 |
814,267 |
809,111 |
809,111 |
812,509 |
| Lodging |
|
27,893 |
29,039 |
28,622 |
28,622 |
28,132 |
| Office |
|
80,985 |
80,469 |
81,279 |
81,279 |
80,771 |
| Commercial |
|
81,330 |
81,478 |
82,016 |
82,016 |
81,763 |
| Health care |
|
47,059 |
46,894 |
46,259 |
46,259 |
43,854 |
| Educational |
|
102,768 |
99,588 |
98,343 |
98,343 |
104,156 |
| Religious |
|
3,058 |
2,722 |
2,774 |
2,774 |
2,897 |
| Public safety |
|
14,649 |
15,329 |
16,225 |
16,225 |
14,029 |
| Amusement & recreation |
|
26,396 |
26,741 |
26,942 |
26,942 |
28,410 |
| Transportation |
|
57,325 |
57,454 |
57,615 |
57,615 |
57,255 |
| Power |
|
115,094 |
118,015 |
118,180 |
118,180 |
117,805 |
| Highway & street |
|
89,543 |
100,941 |
99,228 |
99,228 |
106,873 |
| Sewage & waste disposal |
|
26,826 |
27,199 |
27,620 |
27,620 |
25,890 |
| Water supply |
|
18,880 |
19,568 |
18,938 |
18,938 |
18,079 |
| Conservation & development |
|
7,671 |
8,795 |
9,279 |
9,279 |
8,194 |
| Manufacturing |
|
72,304 |
76,974 |
72,761 |
72,761 |
71,367 |
| |
|
|
|
|
|
|
| Total Private Construction
|
|
610,871 |
589,437 |
546,600 |
546,600 |
535,933 |
| Residential |
|
610,871 |
589,437 |
546,600 |
546,600 |
535,933 |
| New single family |
|
305,843 |
287,884 |
268,018 |
268,018 |
261,754 |
| New multi-family |
|
88,134 |
85,407 |
85,758 |
85,758 |
77,336 |
| Nonresidential |
|
464,054 |
471,994 |
466,860 |
466,860 |
465,275 |
| Lodging |
|
26,812 |
27,946 |
27,549 |
27,549 |
27,171 |
| Office |
|
69,971 |
69,242 |
69,507 |
69,507 |
69,680 |
| Commercial |
|
77,549 |
77,591 |
77,846 |
77,846 |
77,902 |
| Health care |
|
37,677 |
37,274 |
36,817 |
36,817 |
35,039 |
| Educational |
|
17,423 |
16,951 |
16,158 |
16,158 |
16,835 |
| Religious |
|
3,053 |
2,722 |
2,774 |
2,774 |
2,897 |
| Amusement & recreation |
|
11,858 |
12,091 |
12,215 |
12,215 |
14,104 |
| Transportation |
|
15,657 |
15,960 |
16,376 |
16,376 |
15,937 |
| Communication |
|
22,354 |
22,918 |
22,894 |
22,894 |
22,924 |
| Power |
|
108,580 |
111,190 |
110,982 |
110,982 |
110,712 |
| Manufacturing |
|
71,922 |
76,589 |
72,457 |
72,457 |
71,044 |
| |
|
|
|
|
|
|
| Total Public Construction |
|
339,102 |
351,392 |
351,105 |
351,105 |
355,200 |
| Residential |
|
8,890 |
9,119 |
8,854 |
8,854 |
7,967 |
| Nonresidential |
|
330,212 |
342,273 |
342,251 |
342,251 |
347,233 |
| Office |
|
11,014 |
11,228 |
11,772 |
11,772 |
11,091 |
| Commercial |
|
3,780 |
3,887 |
4,170 |
4,170 |
3,861 |
| Health care |
|
9,382 |
9,620 |
9,442 |
9,442 |
8,815 |
| Educational |
|
85,345 |
82,637 |
82,185 |
82,185 |
87,321 |
| Public safety |
|
14,565 |
15,210 |
16,108 |
16,108 |
13,953 |
| Amusement & recreation |
|
14,538 |
14,650 |
14,727 |
14,727 |
14,306 |
| Transportation |
|
41,669 |
41,494 |
41,239 |
41,239 |
41,318 |
| Power |
|
6,514 |
6,825 |
7,199 |
7,199 |
7,092 |
| Highway & street |
|
89,330 |
100,584 |
98,964 |
98,964 |
106,551 |
| Sewage & waste disposal |
|
26,560 |
26,841 |
27,264 |
27,264 |
25,599 |
| Water supply |
|
18,332 |
18,940 |
18,437 |
18,437 |
17,781 |
| Conservation & development |
|
7,583 |
8,736 |
9,232 |
9,232 |
8,151 |
Construction Spending by Month and Category Year on Year Growth at Annual Rate
Construction Spending Seasonally
Adjusted
Annuall Rate ( Y/Y in % ) |
Sep. 2020
Prel. |
Aug. 2020
Prel. |
July 2020
Prel. |
June 2020
Rest. |
May 2020
Prel. |
| Total Construction |
9.31 % |
9.77 % |
5.88 % |
6.03 % |
4.06 % |
| Residential |
19.65 % |
16.21 % |
8.32 % |
8.22 % |
5.43 % |
| Nonresidential |
2.4 % |
5.48 % |
4.26 % |
4.57 % |
3.17 % |
| Lodging |
-16.12 % |
-13.74 % |
-17.43 % |
-16.62 % |
-17.24 % |
| Office |
1.51 % |
1.15 % |
2.96 % |
2.95 % |
3.23 % |
| Commercial |
-0.77 % |
-1.2 % |
-0.65 % |
-1.26 % |
-0.25 % |
| Health care |
7.92 % |
8.32 % |
3.35 % |
8.1 % |
2.15 % |
Educational |
5.75 % |
5.35 % |
8.25 % |
8.46 % |
7.36 % |
| Religious |
15.01 % |
0.11 % |
5.8 % |
0.84 % |
2.3 % |
| Public safety |
42.38 % |
46.16 % |
54.52 % |
63.87 % |
39.62 % |
| Amusement & recreation |
-2.85 % |
-5.12 % |
-3.09 % |
-2.97 % |
2.77 % |
Transportation |
3.17 % |
3.23 % |
2.56 % |
1.46 % |
-1.25 % |
| Power |
20.42 % |
21.95 % |
18.75 % |
20.07 % |
17.75 % |
| Highway & street |
-8.87 % |
5.41 % |
1.97 % |
-2.92 % |
-2.02 % |
| Sewage & waste disposal |
-1.75 % |
0.01 % |
-0.82 % |
3.21 % |
-4.28 % |
Water supply |
5.84 % |
15.75 % |
9.23 % |
17.74 % |
12.73 % |
| Conservation & development |
-16.36 % |
-6.49 % |
-4.56 % |
3.53 % |
-5.15 % |
Manufacturing |
-0.27 % |
7.41 % |
0.37 % |
2.29 % |
1.2 % |
| |
|
|
|
|
|
| Total Private Construction
|
19.45 % |
15.93 % |
7.87 % |
7.76 % |
5.15 % |
| Residential |
19.45 % |
15.93 % |
7.87 % |
7.76 % |
5.15 % |
| New single family |
11.37 % |
6.18 % |
-0.04 % |
1.68 % |
-1.37 % |
| New multi-family |
43.23 % |
37.77 % |
37.31 % |
29.55 % |
17.1 % |
| Nonresidential |
3.07 % |
4.56 % |
2.29 % |
2.45 % |
1.74 % |
| Lodging |
-17.16 % |
-14.75 % |
-18.23 % |
-16.99 % |
-16.66 % |
| Office |
1.37 % |
0.64 % |
1.4 % |
1.94 % |
2.56 % |
| Commercial |
0.17 % |
-0.57 % |
-0.07 % |
-1.09 % |
0.23 % |
| Health care |
9.2 % |
8.92 % |
3.15 % |
7.34 % |
2.62 % |
| Educational |
-4.89 % |
-6.21 % |
-8.05 % |
-8.76 % |
-9.9 % |
| Religious |
14.82 % |
0.11 % |
5.8 % |
0.84 % |
2.3 % |
| Amusement & recreation |
-11.7 % |
-12.08 % |
-12.44 % |
-16.32 % |
-3.24 % |
| Transportation |
-5.14 % |
-2.65 % |
0.87 % |
-11.21 % |
-18.29 % |
| Communication |
-4.54 % |
-2.97 % |
0.33 % |
-0.72 % |
-1.79 % |
| Power |
22.08 % |
23.27 % |
18.58 % |
20.09 % |
17.3 % |
| Manufacturing |
-0.51 % |
7.24 % |
0.29 % |
2.19 % |
1.09 % |
| |
|
|
|
|
|
| Total Public Construction |
2.16 % |
7.4 % |
7.82 % |
8.35 % |
5.58 % |
| Residential |
35.56 % |
38.06 % |
46.71 % |
47.25 % |
28.92 % |
| Nonresidential |
1.48 % |
6.76 % |
7.08 % |
7.61 % |
5.14 % |
| Office |
2.4 % |
4.42 % |
13.24 % |
9.34 % |
7.61 % |
| Commercial |
-16.78 % |
-12.4 % |
-10.38 % |
-4.4 % |
-8.96 % |
| Health care |
3.06 % |
6.06 % |
4.1 % |
11.2 % |
0.32 % |
| Educational |
8.22 % |
8.08 % |
12.16 % |
12.64 % |
11.48 % |
Public safety |
44.52 % |
48.45 % |
56.86 % |
66.37 % |
41.89 % |
| Amusement & recreation |
5.8 % |
1.52 % |
6.33 % |
11.82 % |
9.47 % |
| Transportation |
6.68 % |
5.69 % |
3.24 % |
7.55 % |
7.39 % |
| Power |
-1.87 % |
3.83 % |
21.56 % |
19.72 % |
25.28 % |
Highway & street |
-8.83 % |
5.34 % |
2.01 % |
-2.92 % |
-2.13 % |
| Sewage & waste disposal |
-0.64 % |
0.73 % |
0.29 % |
4.53 % |
-3.23 % |
| Water supply |
4.4 % |
13.95 % |
8.14 % |
16.5 % |
12.53 % |
Conservation & development |
-16.94 % |
-6.61 % |
-4.64 % |
3.36 % |
-5.25 % |
Construction Spending by Month and Category Month on Month Growth at Annual Rate
Construction Spending Seasonally
Adjusted
Annuall Rate ( M/M in % ) |
Sep. 2020
Prel. |
Aug. 2020
Prel. |
July 2020
Prel. |
June 2020
Rest. |
May 2020
Prel. |
| Total Construction |
0.09 % |
3.54 % |
0 % |
0.6 % |
0.76 % |
| Residential |
3.54 % |
7.76 % |
0 % |
2.12 % |
-0.08 % |
| Nonresidential |
-2.46 % |
0.64 % |
0 % |
-0.42 % |
1.33 % |
| Lodging |
-3.95 % |
1.46 % |
0 % |
1.74 % |
-6.22 % |
| Office |
0.64 % |
-1 % |
0 % |
0.63 % |
2.55 % |
| Commercial |
-0.18 % |
-0.66 % |
0 % |
0.31 % |
-8.35 % |
| Health care |
0.35 % |
1.37 % |
0 % |
5.48 % |
-3.75 % |
Educational |
3.19 % |
1.27 % |
0 % |
-5.58 % |
11.39 % |
| Religious |
12.34 % |
-1.87 % |
0 % |
-4.25 % |
10.07 % |
| Public safety |
-4.44 % |
-5.52 % |
0 % |
15.65 % |
4.27 % |
| Amusement & recreation |
-1.29 % |
-0.75 % |
0 % |
-5.17 % |
9.73 % |
Transportation |
-0.22 % |
-0.28 % |
0 % |
0.63 % |
6.15 % |
| Power |
-2.48 % |
-0.14 % |
0 % |
0.32 % |
5.89 % |
| Highway & street |
-11.29 % |
1.73 % |
0 % |
-7.15 % |
0.49 % |
| Sewage & waste disposal |
-1.37 % |
-1.52 % |
0 % |
6.68 % |
-2.12 % |
Water supply |
-3.52 % |
3.33 % |
0 % |
4.75 % |
-2.31 % |
| Conservation & development |
-12.78 % |
-5.22 % |
0 % |
13.24 % |
-4.54 % |
Manufacturing |
-6.07 % |
5.79 % |
0 % |
1.95 % |
-4.06 % |
| |
|
|
|
|
|
| Total Private Construction
|
3.64 % |
7.84 % |
0 % |
1.99 % |
-0.16 % |
| Residential |
3.64 % |
7.84 % |
0 % |
1.99 % |
-0.16 % |
| New single family |
6.24 % |
7.41 % |
0 % |
2.39 % |
-6.83 % |
| New multi-family |
3.19 % |
-0.41 % |
0 % |
10.89 % |
44.23 % |
| Nonresidential |
-1.68 % |
1.1 % |
0 % |
0.34 % |
-0.43 % |
| Lodging |
-4.06 % |
1.44 % |
0 % |
1.39 % |
-6.93 % |
| Office |
1.05 % |
-0.38 % |
0 % |
-0.25 % |
2.32 % |
| Commercial |
-0.05 % |
-0.33 % |
0 % |
-0.07 % |
-8.32 % |
| Health care |
1.08 % |
1.24 % |
0 % |
5.07 % |
-4.69 % |
| Educational |
2.78 % |
4.91 % |
0 % |
-4.02 % |
12.89 % |
| Religious |
12.16 % |
-1.87 % |
0 % |
-4.25 % |
10.07 % |
| Amusement & recreation |
-1.93 % |
-1.02 % |
0 % |
-13.39 % |
11.32 % |
| Transportation |
-1.9 % |
-2.54 % |
0 % |
2.75 % |
4.1 % |
| Communication |
-2.46 % |
0.1 % |
0 % |
-0.13 % |
-1.59 % |
| Power |
-2.35 % |
0.19 % |
0 % |
0.24 % |
5.9 % |
| Manufacturing |
-6.09 % |
5.7 % |
0 % |
1.99 % |
-3.81 % |
| |
|
|
|
|
|
| Total Public Construction |
-3.5 % |
0.08 % |
0 % |
-1.15 % |
3.83 % |
| Residential |
-2.51 % |
2.99 % |
0 % |
11.13 % |
5.78 % |
| Nonresidential |
-3.52 % |
0.01 % |
0 % |
-1.43 % |
3.78 % |
| Office |
-1.91 % |
-4.62 % |
0 % |
6.14 % |
4.01 % |
| Commercial |
-2.75 % |
-6.79 % |
0 % |
8 % |
-8.94 % |
| Health care |
-2.47 % |
1.89 % |
0 % |
7.11 % |
0.2 % |
| Educational |
3.28 % |
0.55 % |
0 % |
-5.88 % |
11.11 % |
Public safety |
-4.24 % |
-5.57 % |
0 % |
15.44 % |
4.32 % |
| Amusement & recreation |
-0.76 % |
-0.52 % |
0 % |
2.94 % |
8.21 % |
| Transportation |
0.42 % |
0.62 % |
0 % |
-0.19 % |
6.96 % |
| Power |
-4.56 % |
-5.2 % |
0 % |
1.51 % |
5.82 % |
Highway & street |
-11.19 % |
1.64 % |
0 % |
-7.12 % |
0.43 % |
| Sewage & waste disposal |
-1.05 % |
-1.55 % |
0 % |
6.5 % |
-2.04 % |
| Water supply |
-3.21 % |
2.73 % |
0 % |
3.69 % |
-2.16 % |
Conservation & development |
-13.2 % |
-5.37 % |
0 % |
13.26 % |
-4.64 % |
|
