It’s that time again! In September of 2011, we posted about construction spending in the month of
When comparing totals from 2011 to 2012, there was a 7.4% increase (approximately) in total construction spending (quantified as the value of construction put in place). This includes private (residential and non-residential) and public construction (power, communications, manufacturing, and more). Private construction increased by 13.3% in 2012 compared to 2011. Private construction is made up of lodging, religious establishments, educational institutions and more. Public construction decreased by 3.2%. Public construction consists of transportation, communication, power, manufacturing, and more.
When drilling down by construction type, we found that private lodging increased by more than 30%, while construction spending for religious institutions dropped by 7.7%.
Another interesting comparison was private residential construction spending in January 2012 versus January 2013. New multi-family construction spending was 54.9% higher in January of last year compared to this year. New single family construction was up over 30%.
We encourage you to find some insightful or interesting comparisons of your own and share them here!