Construction spending during November 2019 was estimated at a seasonally adjusted annual rate of $1,324.1 billion, 0.6 percent above the heavily upward revised October estimate of $1,316.8 billion. The November figure is 4.1 percent above the November 2018 estimate of $1,271.4 billion. Virtually all of the growth in the November figures can be accounted for by the expansion in residential spending. During the first eleven months of this year, construction spending amounted to $1,201.6 billion, is only 0.8 percent below the $1,211.8 billion for the same period in 2018. 

PRIVATE CONSTRUCTION:
Private Construction Spending on private construction was at a seasonally adjusted annual rate of $985.5 billion, 0.4 percent above the revised October estimate of $981.1 billion. Residential construction was at a seasonally adjusted annual rate of $536.1 billion in November, 1.9 percent  above the revised October estimate of $526.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $449.4 billion in November, 1.2 percent below the revised October estimate of $454.7 billion.

PUBLIC CONSTRUCTION:
Public Construction In November, the estimated seasonally adjusted annual rate of public construction spending was $338.6 billion, 0.9 percent above the revised October estimate of $335.7 billion. Educational construction was at a seasonally adjusted annual rate of $83.9 billion, virtually unchanged from the revised October estimate of $84.0 billion. Highway construction was at a seasonally adjusted annual rate of $96.4 billion, 2.2 percent above the revised October estimate of $94.3 billion.

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Construction spending during October 2019 was estimated at a seasonally adjusted annual rate of $1,291.1 billion, 0.8 percent below the revised September estimate of $1,301.8 billion. Most of the slowdown in October occurred in the private sector markets vs. the public sector where the start of the federal government’s new fiscal year buoyed the numbers. However, the 2019 October figure is 1.1 percent above the October 2018 estimate of $1,277.4 billion.  During the first ten months of this year, construction spending amounted to $1,086.5 billion, 1.7 percent below the $1,105.2 billion for the same period in 2018. 

PRIVATE CONSTRUCTION:
Private Construction Spending on private construction was at a seasonally adjusted annual rate of $956.3 billion, 1.0 percent below the revised September estimate of $966.1 billion. Residential construction was at a seasonally adjusted annual rate of $508.2 billion in October, 0.9 percent  below the revised September estimate of $512.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $448.1 billion in October, 1.2 percent below the revised September estimate of $453.5 billion.

PUBLIC CONSTRUCTION:
Public Construction In October, the estimated seasonally adjusted annual rate of public construction spending was $334.8 billion, 0.2 percent below the revised September estimate of $335.6 billion. Educational construction was at a seasonally adjusted annual rate of $83.3 billion, 2.5 percent above the revised September estimate of $81.3 billion. Highway construction was at a seasonally adjusted annual rate of $95.0 billion, 2.2 percent below the revised September estimate of $97.1 billion.

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Construction spending during September 2019 was estimated at a seasonally adjusted annual rate of $1,293.6 billion, 0.5 percent above the revised August estimate of $1,287.1 billion. However, the September figure is 2.0 percent below the September 2018 estimate of $1,319.7 billion. During the first nine months of this year, construction spending amounted to $968.7 billion, 2.2 percent below the $990.2 billion for the same period in 2018.

PRIVATE CONSTRUCTION: Private Construction Spending on private construction was at a seasonally adjusted annual rate of $961.7 billion, 0.2 percent above the revised August estimate of $959.9 billion. Residential construction was at a seasonally adjusted annual rate of $511.4 billion in September, 0.6 percent above the revised August estimate of $508.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $450.3 billion in September, 0.3 percent below the revised August estimate of $451.4 billion.

PUBLIC CONSTRUCTION: Public Construction In September, the estimated seasonally adjusted annual rate of public construction spending was $331.9 billion, 1.5 percent above the revised August estimate of $327.2 billion. Educational construction was at a seasonally adjusted annual rate of $78.9 billion, 3.1 percent above the revised August estimate of $76.5 billion. Highway construction was at a seasonally adjusted annual rate of $98.0 billion, 2.6 percent above the revised August estimate of $95.5 billion.

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Total Construction spending during August 2019 was estimated at a seasonally adjusted annual rate of $1,287.3 billion, 0.1 percent above the revised July estimate of $1,285.6 billion. The August figure is 1.9 percent below the August 2018 estimate of $1,312.2 billion. In August, nonresidential private sector spending slipped one percent (or down $4.2 billion) accounting for nearly all the negative news. During the first eight months of this year, construction spending amounted to $851.3 billion, 2.3 percent below the $871.3 billion for the same period in 2018. 

PRIVATE CONSTRUCTION:
Private Construction Spending on private construction was at a seasonally adjusted annual rate of $955.0 billion, nearly the same as the revised July estimate of $954.8 billion. Residential construction was at a seasonally adjusted annual rate of $507.2 billion in August, 0.9 percent above the revised July estimate of $502.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $447.9 billion in August, 1.0 percent below the revised July estimate of $452.3 billion.

PUBLIC CONSTRUCTION:
Public Construction In August, the estimated seasonally adjusted annual rate of public construction spending was $332.3 billion, 0.4 percent above the revised July estimate of $330.8 billion. Educational construction was at a seasonally adjusted annual rate of $77.0 billion, 1.4 percent above the revised July estimate of $75.9 billion. Highway construction was at a seasonally adjusted annual rate of $98.9 billion, 0.6 percent above the revised July estimate of $98.3 billion.

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Construction spending during July 2019 was estimated at a seasonally adjusted annual rate of $1,288.8 billion, 0.1 percent above the revised June estimate of $1,288.1 billion. The July figure is  2.7 percent below the July 2018 estimate of $1,324.8 billion. During the first seven months of this year, construction spending amounted to $733.8 billion, 2.1 percent below the $749.9 billion for the same period in 2018. 

PRIVATE CONSTRUCTION:
Private Construction Spending on private construction was at a seasonally adjusted annual rate of $963.1 billion, 0.1 percent below the revised June estimate of $963.7 billion. Residential construction was at a seasonally adjusted annual rate of $506.7 billion in July, 0.6 percent above the revised June estimate of $503.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $456.4 billion in July, 0.8 percent below the revised June estimate of $460.2 billion.

PUBLIC CONSTRUCTION:
Public Construction In July, the estimated seasonally adjusted annual rate of public construction spending was $325.7 billion, 0.4 percent above the revised June estimate of $324.3 billion. Educational construction was at a seasonally adjusted annual rate of $73.3 billion, 1.6 percent above the revised June estimate of $72.1 billion. Highway construction was at a seasonally adjusted annual rate of $97.0 billion, 2.7 percent below the revised June estimate of $99.7 billion.

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JUST RELEASED!

The widespread shortcomings and low success rate of megaprojects have been so pervasive that those involved have begun to question the very model. The recent exits of prominent engineering and construction (E&C) players in certain types of megaprojects markets indicate the situation may be coming to a head.  READ THE FULL REPORT HERE: MEGAPROJECTS: Changing the Conversation

Construction spending during June 2019 was estimated at a seasonally adjusted annual rate of $1,287.0 billion, 1.3 percent below the revised May estimate of $1,303.4 billion. The bulk of the June drop-off came in the public sector side of construction spending. The June figure is 2.1 percent below the June 2018 estimate of $1,314.8 billion. During the first six months of this year, construction spending amounted to $615.8 billion, 0.5 percent below the $619.0 billion for the same period in 2018.

Private Construction Spending on private construction was at a seasonally adjusted annual rate of $962.9 billion, 0.4 percent below the revised May estimate of $967.0 billion. Residential construction was at a seasonally adjusted annual rate of $507.2 billion in June, 0.5 percent below the revised May estimate of $509.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $455.7 billion in June, 0.3 percent below the revised May estimate of $457.3 billion. 

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Total Construction spending during May 2019 was estimated at a seasonally adjusted annual rate of $1,293.9 billion, 0.8 percent below the revised April estimate of $1,304.0 billion. The May figure is 2.3 percent below the May 2018 estimate of $1,324.3 billion. During the first five months of this year, construction spending amounted to $498.8 billion, 0.3 percent below the $500.3 billion record pace set for the same period in 2018. 

PRIVATE CONSTRUCTION:
Private Construction Spending on private construction was at a seasonally adjusted annual rate of $953.2 billion, 0.7 percent below the revised April estimate of $960.3 billion. Residential construction was at a seasonally adjusted annual rate of $498.9 billion in May, 0.6 percent below the revised April estimate of $501.7 billion. Nonresidential construction was at a seasonally adjusted annual rate of $454.3 billion in May, 0.9 percent below the revised April estimate of $458.5 billion.

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Construction spending during April 2019 was estimated at a seasonally adjusted annual rate of $1,298.5 billion, nearly the same as the revised March estimate of $1,299.2 billion. However, the April figure was 1.2 percent below the April 2018 estimate of $1,314.7 billion. The slowness or downturn during April came on the private sector spending side, while the public side saw healthy upticks in outlays. During the first four months of this year, construction spending amounted to $386.1 billion, or only 0.2 percent above the $385.5 billion for the same period in 2018. 

PRIVATE CONSTRUCTION:
Private Construction Spending on private construction was at a seasonally adjusted annual rate of $954.0 billion, 1.7 percent below the revised March estimate of $970.4 billion. Residential construction was at a seasonally adjusted annual rate of $499.3 billion in April, 0.6 percent below the revised March estimate of $502.4 billion. Nonresidential construction was at a seasonally adjusted annual rate of $454.7 billion in April, 2.9 percent below the revised March estimate of $468.0 billion.

PUBLIC CONSTRUCTION:
Public Construction In April, the estimated seasonally adjusted annual rate of public construction spending was $344.6 billion, 4.8 percent above the revised March estimate of $328.7 billion. Educational construction was at a seasonally adjusted annual rate of $80.0 billion, 2.1 percent above the revised March estimate of $78.3 billion. Highway construction was at a seasonally adjusted annual rate of $114.3 billion, 6.8 percent above the revised March estimate of $107.0 billion.

BY THE NUMBERS:

Construction spending during March 2019 was estimated at a seasonally adjusted annual rate of $1,282.2 billion, 0.9 percent below the revised February estimate of $1,293.3 billion. The March figure is 0.8 percent below the March 2018 estimate of $1,293.1 billion. The one bright spot was nonresidential spending, which saw a very slight increase over February’s numbers.  During the first three months of this year, construction spending amounted to $277.7 billion, actually 0.2 percent below the $278.3 billion for the same period in 2018. 

PRIVATE CONSTRUCTION:
Private Construction Spending on private construction was at a seasonally adjusted annual rate of $961.5 billion, 0.7 percent below the revised February estimate of $968.6 billion. Residential construction was at a seasonally adjusted annual rate of $500.9 billion in March, 1.8 percent below the revised February estimate of $510.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $460.6 billion in March, 0.5 percent above the revised February estimate of $458.5 billion.

PUBLIC CONSTRUCTION:
Public Construction In March, the estimated seasonally adjusted annual rate of public construction spending was $320.7 billion, 1.3 percent below the revised February estimate of $324.7 billion. Educational construction was at a seasonally adjusted annual rate of $76.6 billion, 1.5 percent below the revised February estimate of $77.8 billion. Highway construction was at a seasonally adjusted annual rate of $104.5 billion, 1.9 percent below the revised February estimate of $106.5 billion.

BY THE NUMBERS: