new report shows national construction outlay increase

Construction outlays increased in late 2019, according to the latest U.S. Census Bureau figures.

Altogether, construction spending was up by 0.6 percent in November over the month before, with a total dollar value of $1.3 billion.

But despite that strong November performance, construction spending actually posted an overall decline of 0.8 percent for the first eleven months of last year compared to 2018.

The largest November segment increase was seen in power industry construction, posting a gain of 4.3 percent, with oil and gas pipelines and field structure construction spending up by a large 12 percent.

In the public construction segment, highway and street spending was significantly up by 7.6 percent. Air, transit, rail, and port construction saw a 12 percent jump in November, and education facility construction went up by an even larger 13 percent.

At the same time, private residential spending increased 1.9 percent from October to November, with single-family construction showing a 1.2 percent jump in November over the month before.

The Census Bureau report, called simply Construction Spending, is a monthly estimate of the total dollar value of all construction work done in the U.S.

The report focuses on new public and private sector construction projects, as well as upgrades and renovations to existing structures.

The latest numbers for December’s construction outlays are scheduled to be released by the Census Bureau on February 3.

By Garry Boulard

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