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Tag Archives: Department of Commerce

Residential Construction Spending Reaches $359.5 Billion for May

More money is being put into construction to meet constant demand from consumers. The U.S Census Bureau of the Department of Commerce announced today that construction spending for May reached an estimated amount of $1,035.8 billion, 0.8 percent increase from the revised April figure of $1,027 billion. Residential construction was at a seasonally adjusted annual rate of $359.5 billion in May, 0.3 percent above the revised April estimate of $358.5 billion.

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Construction Spending Edges Up as Builders Maintain Caution

According to figures released Thursday by the Commerce Department, total construction spending in March bumped up 0.2 percent to an estimated adjusted annual rate of $942.5 billion. Compared to a year prior, March spending was up 8.4 percent. In the private sector, construction spending was put at an estimated rate of $679.6 billion, with residential projects accounting for $369.8 billion of that total.

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Construction Spending Ticks Up; Residential Activity Stumbles

The Department of Commerce reported Tuesday that construction spending throughout February came to an estimated seasonally adjusted annual rate of $945.7 billion, a 0.1 percent climb from a downwardly revised level of $944.6 billion in January. Year-over-year, February spending was up 8.7 percent. Between both private and public projects, residential construction spending was at an estimated rate of $365.2 billion, down 0.7 percent from January.

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Starts, Permit Data Show Shift to Multifamily

Housing permits rose a sharp 4.6 percent to a seasonally adjusted annual rate of 946,000 in February, to the highest level since June 2008, while housing starts edged up 0.8 percent to 917,000, the Census Bureau and HUD reported jointly Tuesday. Most--almost 62 percent├â┬ó├óÔÇÜ┬¼├óÔé¼┼ôof the increase in permits came in applications to build multifamily units. While the comparisons are favorable, the June 2008 activity came in the midst of a steady decline in residential construction.

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Construction Spending Declines 2.1% in January

Construction spending came in at a seasonally adjusted annual rate of $883.3 billion January, a 2.1 percent monthly drop, the Census Bureau reported Friday. January's figure sits 7.1 percent above January 2012's spending estimate of $824.7 billion. December's estimate was revised upward to $902.6 billion from an originally reported $885.0 billion. Residential construction spending in the private sector was an estimated $304.6 billion, essentially flat month-over-month and up 22.0 percent year-over-year.

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October Construction Spending Up 9.6% Year-Over-Year

Construction spending during October was at a seasonally adjusted annualized rate of $872.1 billion, according to an estimate from the Census Bureau. Spending on private construction was at an annual rate of $592.1 billion in October, up about $9.4 billion (1.6 percent) from September's revised $582.7 billion. Spending on homebuilding made up a little less than half of that total, reaching an annual rate of $294.2 billion (up 3.0 percent from September and 20.8 percent from October 2011).

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