According to the U.S. Census Bureau, construction spending during August 2023 was estimated at a seasonally adjusted annual rate of $1,983.5 billion, 0.5% (±1.2%) above the revised July estimate of $1,973.7 billion. The August figure is 7.4% (±1.8%) above the August 2022 estimate of $1,847.3 billion. During the first eight months of this year, construction spending amounted to $1,284.7 billion,…
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Construction Spending Ticks Upward; Highways Down Slightly
According to the U.S. Census Bureau, construction spending during June 2023 was estimated at a seasonally adjusted annual rate of $1,938.4 billion, 0.5% (±0.5%) above the revised May estimate of $1,929.6 billion. The June figure is 3.5% (±1.3%) above the June 2022 estimate. During the first six months of this year, construction spending amounted to $917.4 billion, 3.0% (±1.0%) above…
Read MoreConstruction Spending Up 10.2% in 2022
According to the U.S. Census Bureau, construction spending during December 2022 was estimated at a seasonally adjusted annual rate of $1,809.8 billion, 0.4% (± 0.8%) below the revised November estimate. The December figure is 7.7% (±1.2%) above the December 2021 estimate. The value of construction in 2022 was $1,792.9 billion, 10.2% (±0.8%) above the $1,626.4 billion spent in 2021. In…
Read MoreLooking Ahead at 2023
The Dodge Construction Network held its 2023 Dodge Construction Outlook, a mainstay in the construction industry for more than 80 years. The forecast predicts that total U.S. construction starts will be unchanged in 2023 at $1.08 trillion. When adjusted for inflation total construction starts will dip 3%. “As the clouds of uncertainty mount on the fate of the economy in…
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