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  • Tue, November 01, 2022 11:31 AM | Anonymous

    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


  • Mon, October 03, 2022 11:11 AM | Anonymous

    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...


  • Wed, September 07, 2022 4:40 PM | Anonymous

    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..


  • Mon, August 01, 2022 12:55 PM | Anonymous

    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.

    Read more HERE.

    Construction Put in Place Charts HERE.

  • Fri, July 01, 2022 12:33 PM | Anonymous

    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....


  • Wed, June 01, 2022 8:27 AM | Anonymous

    Construction spending during April 2022 was estimated at a seasonally adjusted annual rate of $1,744.8 billion, 0.2 percent above the upward revised March estimate of $1,740.6 billion. The April figure is 12.3 percent above the April 2021 estimate of $1,553.5 billion. During the first four months of this year, construction spending amounted to $520.8 billion, a massive inflation tainted 12.4 percent above the $463.3 billion for the same period in 2021. The only growth experienced over revised March numbers was in residential spending (up $8.0 billion). All of the other market sectors saw slight decreases over the revised numbers.

    PRIVATE CONSTRUCTION:
    Spending on private construction was at a seasonally adjusted annual rate of $1,394.7 billion, 0.5 percent above the revised March estimate of $1,387.9 billion. Residential construction was at a seasonally adjusted annual rate of $891.5 billion in April, 0.9 percent above the revised March estimate of $883.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $503.2 billion in April, 0.2 percent below the revised March estimate of $504.4 billion.  
    READ MORE...

  • Mon, May 02, 2022 1:19 PM | Anonymous

    Construction spending during March 2022 was estimated at a seasonally adjusted annual rate of $1,730.5 billion, 0.1 percent above the upward revised February estimate of $1,728.6 billion. The March figure is 11.7 percent above the March 2021 estimate of $1,548.6 billion. Residential spending surged past 50 percent of the entire market outlays, fueling the monthly increase while masking some declines or stagnate results in other sectors. During the first three months of this year, construction spending amounted to $376.6 billion, an inflation tinted 12.0 percent above the $336.3 billion for the same period in 2021.  READ MORE.....


  • Fri, April 01, 2022 12:43 PM | Anonymous

    Construction spending during February 2022 was estimated at a seasonally adjusted annual rate of $1,704.4 billion, 0.5 percent above the upwardly revised January estimate of $1,695.5 billion. The February figure is 11.2 percent above the February 2021 estimate of $1,533.3 billion. During the first two months of this year, construction spending amounted to $237.8 billion, a torrid 10.4 percent above the $215.4 billion for the same period in 2021.  However, much of the dollar growth may be offset by the nearly 8.0 percent inflation that has occurred in the same time frame, while residential expenditures now compose nearly 50% of the ENTIRE total. Also of note, the public sector side has not experienced much of an increase (now only 20.58% overall), even with the massive $1.2 trillion infrastructure bill. (This may be evidence in support of critics contentions that much of the money isn’t traditionally or generally defined as basic infrastructure).     READ MORE...

  • Thu, March 24, 2022 12:15 PM | Anonymous

    As a follow-up or outcome of the CIRT-FMI Webinar series, a whitepaper entitled The Construction Spending Paradox: Is it Growth or Inflation? has been developed to provide background, data, and concepts to CIRT members regarding how to remain competitive as production costs rise.  The report points out, that in February 2022 consumer prices climbed 7.9% year over year— at the same time, the 12-month producer price index was up 10%. The impact in part “has left contractors juggling steeply rising input costs, stalling advances in bid prices, and taking larger shares of project risk.”  Near term, there are sober concerns that: “Companies may experience a drop in profits despite strong backlogs and prospects for growth as energy and labor costs continue to rise.”  To counter this, firm estimators will need to master the “tricky job negotiating price fluctuations, supply chain issues, margin protection, labor costs and relationships with subcontractors.”

    The paper is intended to “arm” CIRT members with reliable, clear, and persuasive evidence of the rapidly changing market conditions to discuss with clients, subs, public, etc. regarding project opportunities and costs. 

  • Tue, March 01, 2022 1:53 PM | Anonymous

    Construction spending during January 2022 was estimated at a seasonally adjusted annual rate of $1,677.2 billion, 1.3 percent above the upwardly revised December estimate of $1,655.8 billion. The January figure is 8.2 percent above the January 2021 estimate of $1,549.8 billion. [NOTE: During the early part of this year, comparisons against early 2021 figures may be greatly affected by the inflationary growth that took hold in mid-late 2021].  READ MORE HERE


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