Residential construction spending – 99% is "private" rather than "public" spending – dropped 8% from June 2018, the ninth month in a row of year-over-year declines, to a seasonally adjusted annual rate of $513 billion, back to January and February 2017 levels, and down 10% from the recent peak in April 2018.
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Construction spending totaled $1.30 trillion at a seasonally adjusted annual rate in both March and April, according to estimates the U.S. Census Bureau released today. For the first four months of 2019 combined, spending edged up by 0.2 percent from the same period in 2018.
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For the first four months of 2019 combined, spending edged up by 0.2 percent from the same period in 2018. Public construction spending soared 4.8 percent for the month and 11.8 percent year-to-date.
US Spending on Residential Improvements: Feb 2019 May 15, 2019 Kta Kosman The most recent data, released Tuesday, from Construction Spending showed that spending on US residential improvements fell to a seasonally adjusted annual rate of US$173 billion in March 2019, -14.1% lower than a year ago.
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Spending growth was well balanced among residential, private nonresidential and public projects. Construction employment climbed by 4.9% from October 2017 to October 2018. That growth rate was nearly triple the 1.7% increase in total nonfarm payroll employment, a sign that contractors are busy now and expect to remain busy in the near future.
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Since that peak, it has fallen by 3.2%, to land at $1.282 trillion in the latest month for which data is available, March 2019. The average of month-to-month percent changes for total U.S. put-in-place construction spending during the past ten years has been +0.4%. In March 2019, the month-over-month figure was in negative territory, at -0.9%.
Monday, the U.S. Census Bureau released its March read of construction spending. The figures show near-cycle low levels of spending for residential construction, while indicating a slight improvement.
Both the 16-day shutdown of the federal government in October and the unusually cold weather that hit much of the United States in late December. While the overall picture of consumer spending has.
Private Residential Construction Spending Declines in the First Quarter 2019 By Na Zhao on May 1, 2019 (). NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $500.9 billion in March, the lowest level since December 2016.