Officially, 2011’s construction spending came in at $787.4 billion, 2.0% below 2010’s $803.6 billion, according to a February Census Bureau news release. These figures are not seasonally adjusted or adjusted for inflation.
If you want to inflation-adjust the number, note that the Consumer Price Index (“for all Urban Consumers”), as reported by the Bureau of Labor Statistics, was 3.0% for “the all items index” in 2011.
Above: Graphic from http://www.calculatedriskblog.com/2012/02/construction-spending-increased-15-in.html”>Calculated Risk blog
Census data showed December 2011 construction (as seasonally adjusted) coming in at 4.3% above December 2010. Some commentators credited that to better winter weather.
Full-year 2011 figures for key segments:
Private construction: Up 0.7% over 2010, to $504.1 billion.
Residential: Down 1.1%, including a 5.1% decline in new single-family construction and a 0.3% increase in multi-family building. The 2011 total was $236.2 billion.
Nonresidential: Up 2.4% compared to 2010. Within this segment, power construction (at $77.9 billion) was the largest single niche, up 17% over 2010. The total in 2011 was $268 billion.
Public construction: Down 6.5% compared to 2010, at $283.3 billion. The largest niche was educational building at $70.9 billion, down 5.3%
Figures for recent years, as provided at the Census website:
2009: $907.8 billion
2008: $1,072.1 billion
2007: $1,137.2 billion
2006: $1,192.2 billion
2005: $1,143.7 billion
Computed with any adjustments, 2011 construction was down 31.1% from 2005.
Risk blog
Census data showed December 2011 construction (as seasonally adjusted) coming in at 4.3% above December 2010. Some commentators credited that to better winter weather.
Full-year 2011 figures for key segments:
Private construction: Up 0.7% over 2010, to $504.1 billion.
Residential: Down 1.1%, including a 5.1% decline in new single-family construction and a 0.3% increase in multi-family building. The 2011 total was $236.2 billion.
Nonresidential: Up 2.4% compared to 2010. Within this segment, power construction (at $77.9 billion) was the largest single niche, up 17% over 2010. The total in 2011 was $268 billion.
Public construction: Down 6.5% compared to 2010, at $283.3 billion. The largest niche was educational building at $70.9 billion, down 5.3%
Figures for recent years, as provided at the Census website:
2009: $907.8 billion
2008: $1,072.1 billion
2007: $1,137.2 billion
2006: $1,192.2 billion
2005: $1,143.7 billion
Computed with any adjustments, 2011 construction was down 31.1% from 2005.
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