(02-01-22) Total Construction – Construction spending during December 2021 was estimated at a seasonally adjusted annual rate of $1,639.9 billion, 0.2 percent (± 0.8 percent)* above the revised November estimate of $1,636.5 billion. The December figure is 9.0 percent (±1.0 percent) above the December 2020 estimate of $1,504.2 billion. The value of construction in 2021 was $1,589.0 billion, 8.2 percent (±0.8 percent) above the $1,469.2 billion spent in 2020. Private Construction – Spending on private construction was at a seasonally adjusted annual rate of $1,292.9 billion, 0.7 percent (±0.5 percent) above the revised November estimate of $1,283.8 billion. Residential construction was at a seasonally adjusted annual rate of $810.3 billion in December, 1.1 percent (±1.3 percent)* above the revised November estimate of $801.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $482.6 billion in December, virtually unchanged from (±0.5 percent)* the revised November estimate of $482.7 billion. The value of private construction in 2021 was $1,242.8 billion, 12.2 percent (±1.0 percent) above the $1,107.9 billion spent in 2020. Residential construction in 2021 was $774.9 billion, 23.2 percent (±2.1 percent) above the 2020 figure of $628.9 billion and nonresidential construction was $467.9 billion, 2.3 percent (±1.0 percent) below the $479.0 billion in 2020. Public Construction – In December, the estimated seasonally adjusted annual rate of public construction spending was $347.0 billion, 1.6 percent (±1.3 percent) below the revised November estimate of $352.7 billion. Educational construction was at a seasonally adjusted annual rate of $81.0 billion, 1.4 percent (±1.5 percent)* below the revised November estimate of $82.2 billion. Highway construction was at a seasonally adjusted annual rate of $103.5 billion, 0.1 percent (±3.5 percent)* above the revised November estimate of $103.4 billion. The value of public construction in 2021 was $346.2 billion, 4.2 percent (±1.5 percent) below the $361.2 billion spent in 2020. Educational construction in 2021 was $82.4 billion, 7.6 percent (±3.0 percent) below the 2020 figure of $89.1 billion and highway construction was $99.7 billion, 0.2 percent (±3.6 percent)* above the $99.5 billion in 2020.
Pipe Exchange
14025 West Road
Suite 100
Houston, TX 77041
- Phone: 713.934.9480
- Fax: 713.934.9490
- Email: sales@pipexch.com