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Construction Spending

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Overview

The Value of Construction Put in Place Survey (VIP) provides monthly estimates of the total dollar value of construction work done in the U.S. The United States Code, Title 13, authorizes this program. The survey covers construction work done each month on new structures or improvements to existing structures for private and public sectors. Data estimates include the cost of labor and materials, cost of architectural and engineering work, overhead costs, interest and taxes paid during construction, and contractor’s profits. Data collection and estimation activities begin on the first day after the reference month and continue for about three weeks. Reported data and estimates are for activity taking place during the previous calendar month. The survey has been conducted monthly since 1964. 

 

Value of Construction Put in Place at a Glance

February 2015

 
Seasonally Adjusted Annual Rate
 
Not Seasonally Adjusted
 
(millions of dollars)
 
(millions of dollars)
Total
 967,170
 
 65,826
  Private
  698,237 
 
  49,002 
     Residential
  349,852 
 
  22,908 
     Nonresidential
  348,385
 
  26,095
  Public
  268,933
 
  16,824
    State and Local
  245,326
 
  15,073
     Federal
    23,607
 
   1,750

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Source: U.S. Census Bureau | Construction Spending Survey | (301) 763-1605  Last Revised: March 11, 2015