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For additional information relating to this article, please contact:

Thomas Storring	Director – Economics and Statistics
Tel: 902-424-2410	Email: thomas.storring@novascotia.ca

September 01, 2020
US CONSTRUCTION SPENDING, JULY 2020

COVID-19 Impact: Due to recent events surrounding COVID-19, many governments and businesses are operating on a limited capacity or have ceased operations completely. The Census Bureau has monitored response and data quality and determined estimates in this release meet publication standards.

Monthly (July 2020 vs June 2019)

• US total construction spending increased 0.1 per cent from the previous month to $1,365 billion (seasonally adjusted annualized rate).
• Total residential construction spending increased 2.1 per cent to $555 billion.
• Total non-residential construction spending was down 1.2 per cent to $809 billion.
• Private sector construction spending increased 0.6 per cent to $1,013 billion:
  • +2.1 per cent for private residential construction to $547 billion
  • -1.0 per cent for private non-residential construction to $467 billion
• Public sector construction spending decreased 1.3 per cent to $351 billion:
  • +1.9 per cent for public residential construction to $9 billion
  • -1.3 per cent for public non-residential construction to $342 billion

Compared with pre-COVID benchmark (July 2020 vs February 2020)

• US construction spending remains 5.3 per cent below the level from February 2020.
• Total residential construction spending is 7.5 per cent below February 2020 levels.
• Total non-residential construction spending is 3.7 per cent below February 2020 levels.
• Private sector construction spending is 6.9 per cent below February 2020 levels:
  • -7.8 per cent for private residential construction
  • -5.8 per cent for private non-residential construction
• Public sector construction spending is 0.4 per cent below February 2020 levels:
  • +16.2 per cent for public residential construction
  • -0.7 per cent for public non-residential construction

Year-over-year (July 2020 vs July 2019)

• US construction spending is 0.1 per cent below the July 2019 estimate.
• Total residential construction spending is 1.0 per cent above the July 2019 estimate.
• Total non-residential construction spending is 0.8 per cent below the July 2019 estimate.
• Private sector construction spending is down 1.8 per cent from July 2019:
  • +0.5 per cent for private residential construction
  • -4.3 per cent for private non-residential construction
• Public sector construction spending is up 5.1 per cent from July 2019:
  • +41.0 per cent for public residential construction
  • +4.4 per cent for public non-residential construction

Source: US Census Bureau

 

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