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Outlays for U.S. construction projects were unchanged in January 2025

Construction Spending

Modified 2025-03-31T06:29:14+00:00
Goran Soko / CSIMarket.com Contributer


Construction spending were flat in the January 2025 after a gain in the last month, but has increased for the year, as decline in residential construction offset an increase in nonresidential construction.
Construction spending remained unchanged in January 2025 at the highest annual rate of $2192.5 billion on the seasonally adjusted basis, reported by the Commerce Department. The stagnation in construction spending suggests that investors became more cautious on the economic growth.

Construction Spending (Picture Autor: Badseed) licence GNU


Construction spending grew by 4.3 % over the past 12 months, as the private construction outlays grew less than total construction.
The construction of private projects sunk smaller than total construction outlays by -0.7 % on the seasonally adjusted basis.
Private residential outlays were in January 2025 at $932.7 billion annual rate, which makes 43.08 % of total construction spending.
Over the past 12 months, spending on private construction projects has climbed by 3.5 %.
  M/M Y/Y
  Commercial 0.36% -4.59%
  Office 1.08% 2.75 %
  Transportation 1.45% 7.27 %
  Power 1.54% 12.91 %
  Manufacturing -0.59% 4.80 %
  Lodging 1.00% -1.31%



     
Public Construction Spending

Outlays for public construction increased by 0.6 % despite decline in residential construction, which fell by -2.25 %, on the seasonally adjusted basis, nonresidential construction was boosted by higher spending for commercial buildings, health care and educational projects. Construction spending for office buildings declined.
Growth in public construction spending is very volatile and often it does not reflect current economic contidions.
U.S. spending on public construction projects rose by 5.8 % in the past 12 months.




Construction Spending Seasonally Adjusted
( in millions $) Annual Rate
Jan. 2025

Prel.
Dec. 2024

Prel.
Nov. 2024

Rest.
Oct. 2024

Prel.
Sep. 2024

Rest.
Total Construction
2,192,540 2,192,173 2,180,323 2,173,968 2,164,747
Residential
944,481 951,525 937,633 945,875 932,177
Nonresidential
1,248,058 1,240,648 1,242,691 1,228,093 1,232,571
Lodging
23,494 23,261 23,264 23,422 23,513
Office
104,781 103,660 102,703 101,107 100,393
Commercial
124,956 124,509 124,869 124,659 125,942
Health care
69,339 68,068 68,969 67,161 67,940
Educational
134,701 134,678 135,457 130,133 130,857
Religious
4,662 4,346 4,345 4,125 3,967
Public safety
19,096 19,203 19,230 19,606 19,356
Amusement & recreation
41,363 41,421 41,479 41,281 41,294
Transportation
70,093 69,089 69,716 70,117 70,156
Power
151,842 149,545 149,313 147,118 147,183
Highway & street
146,064 144,341 143,320 142,050 143,196
Sewage & waste disposal
47,015 46,818 47,443 46,075 46,818
Water supply
34,334 34,199 35,065 35,166 35,353
Conservation & development
11,431 11,304 11,496 11,357 11,737
Manufacturing
235,749 237,160 237,012 236,114 236,236
             
Total Private Construction
932,712 939,486 925,537 934,033 920,280
Residential
932,712 939,486 925,537 934,033 920,280
New single family
431,246 428,485 424,297 423,881 420,574
New multi-family
116,932 119,395 119,728 125,379 125,182
Nonresidential
753,267 749,046 748,595 742,335 744,428
Lodging
22,873 22,625 22,661 22,731 22,813
Office
87,940 86,547 85,611 84,154 83,777
Commercial
118,259 118,105 118,470 118,438 119,768
Health care
54,208 53,288 53,736 52,491 53,221
Educational
24,879 25,154 25,274 24,810 25,147
Religious
4,662 4,346 4,345 4,125 3,967
Amusement & recreation
18,436 18,586 18,625 18,748 18,970
Transportation
22,424 22,625 22,655 22,589 22,574
Communication
28,406 28,270 28,102 27,758 27,756
Power
132,260 129,454 129,116 127,167 126,918
Manufacturing
234,833 236,093 235,976 235,010 235,089
             
Total Public Construction
506,561 503,642 506,191 497,600 500,039
Residential
11,769 12,040 12,095 11,842 11,897
Nonresidential
494,792 491,602 494,096 485,758 488,142
Office
16,842 17,113 17,092 16,952 16,616
Commercial
6,697 6,404 6,399 6,221 6,175
Health care
15,131 14,780 15,233 14,670 14,719
Educational
109,822 109,524 110,183 105,323 105,710
Public safety
18,845 18,955 18,940 19,279 19,076
Amusement & recreation
22,927 22,835 22,854 22,533 22,324
Transportation
47,669 46,464 47,061 47,528 47,583
Power
19,582 20,091 20,198 19,951 20,265
Highway & street
145,002 143,273 142,288 141,075 142,115
Sewage & waste disposal
45,787 45,742 46,316 44,869 45,533
Water supply
32,848 32,724 33,633 33,513 33,720
Conservation & development
11,370 11,220 11,352 11,204 11,587



Construction Spending by Month and Category Year on Year Growth at Annual Rate




Construction Spending Seasonally Adjusted
Annuall Rate ( Y/Y in % )
Jan. 2025
Dec. 2024
Nov. 2024
Oct. 2024
Sep. 2024
Total Construction 4.29 % 4.59 % 6.35 % 7.25 % 8.43 %
Residential 3.54 % 3.18 % 3.33 % 5.67 % 5.65 %
Nonresidential 4.86 % 5.69 % 8.75 % 8.49 % 10.62 %
Lodging -1.31 % -1.77 % 0.47 % -3.68 % -3.1 %
Office 2.75 % 2.22 % 1.74 % -0.07 % 0.46 %
Commercial -4.59 % -6.52 % -5.39 % -6.19 % -6.1 %
Health care 2.94 % 3.7 % 8.87 % 7.25 % 9.06 %
Educational 6.44 % 8.21 % 10.1 % 7.22 % 10.69 %
Religious 18.9 % 13.83 % 21.2 % 17.15 % 25.74 %
Public safety 29.33 % 28.7 % 35.6 % 39.82 % 47.13 %
Amusement & recreation 19.87 % 20.22 % 24.3 % 24.01 % 22.93 %
Transportation 7.27 % 6.29 % 8.33 % 8.44 % 9.05 %
Power 12.91 % 14.47 % 16.55 % 17.8 % 19.43 %
Highway & street -3.32 % -5.27 % 4.63 % 6.91 % 8.37 %
Sewage & waste disposal 6.81 % 6.28 % 8.27 % 6.73 % 11.14 %
Water supply 17.48 % 17.27 % 19.67 % 22.34 % 27.26 %
Conservation & development -3.32 % -5.03 % 1.28 % -7.24 % 0.51 %
Manufacturing 4.8 % 10.88 % 12.98 % 14.15 % 18.76 %
           
Total Private Construction 3.54 % 3.05 % 3.21 % 5.61 % 5.53 %
Residential 3.54 % 3.05 % 3.21 % 5.61 % 5.53 %
New single family 0.26 % 0.25 % 0.41 % 3.7 % 4.54 %
New multi-family -13.05 % -12.17 % -11.72 % -7.54 % -7.72 %
Nonresidential 4.24 % 5.8 % 7.22 % 6.83 % 8.86 %
Lodging -1.48 % -2.89 % -0.82 % -5.35 % -4.86 %
Office 2.16 % 1.35 % 0.25 % -1.71 % -0.84 %
Commercial -6.23 % -8.03 % -6.93 % -7.79 % -7.52 %
Health care 0.95 % 2.58 % 6.34 % 5.27 % 7.81 %
Educational -0.47 % 4.02 % 6.13 % 2.46 % 5.75 %
Religious 18.9 % 13.83 % 21.2 % 17.15 % 25.74 %
Amusement & recreation 11.69 % 12.44 % 15.48 % 16.05 % 15.67 %
Transportation 13.98 % 15.06 % 14.41 % 15.22 % 15.69 %
Communication 13.88 % 13.94 % 13.12 % 11.81 % 12.2 %
Power 15.24 % 15.97 % 17.29 % 17.39 % 19.18 %
Manufacturing 4.7 % 10.59 % 12.73 % 13.9 % 18.46 %
           
Total Public Construction 5.76 % 5.73 % 11.22 % 11.12 % 13.48 %
Residential 3.6 % 15.25 % 13.7 % 10.59 % 15.66 %
Nonresidential 5.81 % 5.52 % 11.16 % 11.13 % 13.43 %
Office 5.97 % 6.84 % 9.94 % 8.99 % 7.53 %
Commercial 38.28 % 33.97 % 36.26 % 40.08 % 33.77 %
Health care 10.76 % 7.93 % 18.88 % 15.01 % 13.84 %
Educational 8.15 % 9.22 % 11.05 % 8.41 % 11.93 %
Public safety 29.3 % 28.68 % 36.44 % 39.96 % 47.91 %
Amusement & recreation 27.36 % 27.41 % 32.56 % 31.52 % 29.85 %
Transportation 4.38 % 2.49 % 5.63 % 5.5 % 6.17 %
Power -0.61 % 5.65 % 11.99 % 20.51 % 21.04 %
Highway & street -3.41 % -5.22 % 4.79 % 6.9 % 8.36 %
Sewage & waste disposal 9.22 % 9.12 % 10.11 % 8.05 % 12.3 %
Water supply 16.33 % 17.18 % 20.06 % 21.06 % 26.53 %
Conservation & development -2.75 % -5.43 % 0.13 % -8.04 % -0.36 %



Construction Spending by Month and Category Month on Month Growth at Annual Rate




Construction Spending Seasonally Adjusted
Annuall Rate ( M/M in % )
Jan. 2025
Dec. 2024
Nov. 2024
Oct. 2024
Sep. 2024
Total Construction 0.02 % 0.54 % 0.29 % 0.43 % 1.54 %
Residential -0.74 % 1.48 % -0.87 % 1.47 % 2.28 %
Nonresidential 0.6 % -0.16 % 1.19 % -0.36 % 0.99 %
Lodging 1 % -0.01 % -0.67 % -0.39 % 0.58 %
Office 1.08 % 0.93 % 1.58 % 0.71 % -0.05 %
Commercial 0.36 % -0.29 % 0.17 % -1.02 % 1.06 %
Health care 1.87 % -1.31 % 2.69 % -1.15 % 1.79 %
Educational 0.02 % -0.58 % 4.09 % -0.55 % 2.98 %
Religious 7.27 % 0.02 % 5.33 % 3.98 % 0.92 %
Public safety -0.56 % -0.14 % -1.92 % 1.29 % 0.52 %
Amusement & recreation -0.14 % -0.14 % 0.48 % -0.03 % 1.1 %
Transportation 1.45 % -0.9 % -0.57 % -0.06 % 1.5 %
Power 1.54 % 0.16 % 1.49 % -0.04 % 1.04 %
Highway & street 1.19 % 0.71 % 0.89 % -0.8 % 0.6 %
Sewage & waste disposal 0.42 % -1.32 % 2.97 % -1.59 % 3.04 %
Water supply 0.39 % -2.47 % -0.29 % -0.53 % 8.12 %
Conservation & development 1.12 % -1.67 % 1.22 % -3.24 % -2.97 %
Manufacturing -0.59 % 0.06 % 0.38 % -0.05 % -0.85 %
           
Total Private Construction -0.72 % 1.51 % -0.91 % 1.49 % 2.26 %
Residential -0.72 % 1.51 % -0.91 % 1.49 % 2.26 %
New single family 0.64 % 0.99 % 0.1 % 0.79 % 1.52 %
New multi-family -2.06 % -0.28 % -4.51 % 0.16 % -2.11 %
Nonresidential 0.56 % 0.06 % 0.84 % -0.28 % 0.3 %
Lodging 1.1 % -0.16 % -0.31 % -0.36 % 0.49 %
Office 1.61 % 1.09 % 1.73 % 0.45 % -0.72 %
Commercial 0.13 % -0.31 % 0.03 % -1.11 % 0.73 %
Health care 1.73 % -0.83 % 2.37 % -1.37 % 0.9 %
Educational -1.09 % -0.47 % 1.87 % -1.34 % 1.73 %
Religious 7.27 % 0.02 % 5.33 % 3.98 % 0.92 %
Amusement & recreation -0.81 % -0.21 % -0.66 % -1.17 % 1.6 %
Transportation -0.89 % -0.13 % 0.29 % 0.07 % 0.17 %
Communication 0.48 % 0.6 % 1.24 % 0.01 % -0.45 %
Power 2.17 % 0.26 % 1.53 % 0.2 % 1.78 %
Manufacturing -0.53 % 0.05 % 0.41 % -0.03 % -0.94 %
           
Total Public Construction 0.58 % -0.5 % 1.73 % -0.49 % 2.1 %
Residential -2.25 % -0.45 % 2.14 % -0.46 % 3.54 %
Nonresidential 0.65 % -0.5 % 1.72 % -0.49 % 2.06 %
Office -1.58 % 0.12 % 0.83 % 2.02 % 3.5 %
Commercial 4.58 % 0.08 % 2.86 % 0.74 % 8.05 %
Health care 2.37 % -2.97 % 3.84 % -0.33 % 5.17 %
Educational 0.27 % -0.6 % 4.61 % -0.37 % 3.28 %
Public safety -0.58 % 0.08 % -1.76 % 1.06 % 0.28 %
Amusement & recreation 0.4 % -0.08 % 1.42 % 0.94 % 0.67 %
Transportation 2.59 % -1.27 % -0.98 % -0.12 % 2.14 %
Power -2.53 % -0.53 % 1.24 % -1.55 % -3.36 %
Highway & street 1.21 % 0.69 % 0.86 % -0.73 % 0.48 %
Sewage & waste disposal 0.1 % -1.24 % 3.22 % -1.46 % 2.88 %
Water supply 0.38 % -2.7 % 0.36 % -0.61 % 7.21 %
Conservation & development 1.34 % -1.16 % 1.32 % -3.31 % -2.74 %

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




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