Construction spending during February 2023 was estimated at a seasonally adjusted annual rate of $1,844.1 billion, 0.1 percent below the upwardly revised January estimate of $1,845.4 billion. The February figure is 5.2 percent above the February 2022 estimate of $1,753.1 billion. During the first two months of this year, construction spending amounted to $260.8 billion, 5.9 percent above the $246.1 billion for the same period in 2022.

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Construction spending during January 2023 was estimated at a seasonally adjusted annual rate of $1,825.7 billion, 0.1 percent below the upwardly revised December estimate of $1,827.5 billion. However, the January “year-over-year” figure is 5.7 percent above the January 2022 estimate of $1,726.6 billion. Private sector spending outperformed the public sector, which was off from its December ’22 levels.

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Construction spending during December 2022 was estimated at a seasonally adjusted annual rate of $1,809.8 billion, 0.4 percent below the upward revised November estimate of $1,817.3 billion. The December figure is 7.7 percent above the December 2021 estimate of $1,681.0 billion. The value of construction in 2022 was $1,792.9 billion, a strong 10.2 percent above the $1,626.4 billion spent in 2021, but well within inflationary impacts.

Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,427.1 billion, 0.4 percent below the revised November estimate of $1,432.9 billion. Residential construction was at a seasonally adjusted annual rate of $857.2 billion in December, 0.3 percent below the revised November estimate of $860.0 billion. Nonresidential construction was at a seasonally adjusted annual rate of $570.0 billion in December, 0.5 percent below the revised November estimate of $572.9 billion.   READ MORE.....

Construction spending during November 2022 was estimated at a seasonally adjusted annual rate of $1,807.5 billion, 0.2 percent above the upward revised October estimate of $1,803.2 billion. The November figure is 8.5 percent above the November 2021 estimate of $1,665.2 billion. Over the last month public sector spending continued to rise (especially with the new fiscal budget in only its second month), while the residential sector has seen a steady decline. During the first eleven months of this year, construction spending amounted to $1,657.6 billion, 10.5 percent above the $1,499.8 billion for the same period in 2021.  Read more HERE

Construction Put in Place Historical Charts HERE

The U.S. Census Bureau announced that the value of total construction spending during October 2022 was estimated at a seasonally adjusted annual rate of $1,794.9 billion, 0.3 percent below the downward revised September estimate of $1,800.1 billion. The October figure is 9.2 percent above the October 2021 estimate of $1,644.3 billion. The month-over-month drop was particularly felt on the private sector side (down over $7 billion), while the public sector market saw increases, although the transportation segment has yet to see a burst of spending expected from the infrastructure bill passed a year ago. During the first ten months of this year, construction spending amounted to $1,507.8 billion, 10.8 percent above the $1,360.8 billion for the same period in 2021.  READ MORE HERE

The U.S. Census Bureau announced that the value of total construction spending during September 2022 was estimated at a seasonally adjusted annual rate of $1,811.1 billion, 0.2 percent above the upward revised August estimate of $1,807.0 billion. The September figure is 10.9 percent above the September 2021 estimate of $1,632.9 billion. Nonresidential spending trended upwards, but surprisingly overall public sector was down slightly from the revised August levels. During the first nine months of this year, construction spending amounted to $1,353.7 billion, 11.4 percent (not adjusted for inflation) above the $1,215.6 billion for the same period in 2021.  READ MORE HERE

The U.S. Census Bureau announced that the value of total construction spending during August 2022 was estimated at a seasonally adjusted annual rate of $1,781.3 billion, 0.7 percent below the upward revised July estimate of $1,793.5 billion. The August figure is 8.5 percent above the August 2021 estimate of $1,641.6 billion. During the first eight months of this year, construction spending amounted to $1,183.8 billion, 10.9 percent above the $1,067.4 billion for the same period in 2021.   READ MORE...

The U.S. Census Bureau announced that the value put in place construction statistics for July 2022 was estimated at a seasonally adjusted annual rate of $1,777.3 billion, 0.4 percent below the upward revised June estimate of $1,784.3 billion. The July figure is 8.5 percent above the July 2021 estimate of $1,637.3 billion. During the first seven months of this year, construction spending amounted to $1,013.7 billion, an inflation impacted 10.8 percent above the $915.2 billion for the same period in 2021.

PRIVATE CONSTRUCTION:
Spending on private construction was at a seasonally adjusted annual rate of $1,424.2 billion, 0.8 percent below the revised June estimate of $1,436.4 billion. Residential construction was at a seasonally adjusted annual rate of $920.4 billion in July, 1.5 percent below the revised June estimate of $934.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $503.9 billion in July, 0.4 percent above the revised June estimate of $502.1 billion.    READ MORE..

The U.S. Census Bureau announced the value put in place construction statistics for June 2022 was estimated at a seasonally adjusted annual rate of $1,762.3 billion, 1.1 percent below the revised May estimate of $1,781.9 billion. The June figure is 8.3 percent above the June 2021 estimate of $1,628.0 billion. During the first six months of this year, construction spending amounted to $848.2 billion, approximating inflation at 10.7 percent above the $766.0 billion for the same period in 2021.

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Construction Put in Place Charts HERE.

The U.S. Census Bureau announced the value put in place construction statistics for May 2022 was estimated at a seasonally adjusted annual rate of $1,779.8 billion, 0.1 percent below the revised April estimate of $1,782.5 billion. The May figure is 9.7 percent above the May 2021 estimate of $1,621.9 billion. During the first five months of this year, construction spending amounted to $686.9 billion, 11.0 percent above the $619.0 billion for the same period in 2021. The only market segment still expanding is isolated to residential construction, the rest are waning.  READ MORE....