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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

June 2022

 
Seasonally Adjusted Annual Rate
 
Not Seasonally Adjusted
 
(millions of dollars)
 
(millions of dollars)
Total
 1,762,317
 
159,785
  Private
  1,416,405
 
126,499
     Residential
  923,721
 
84,037
     Nonresidential
  492,684
 
 42,462
  Public
   345,912
 
 33,286
     State and Local
  318,721
 
 30,895
     Federal
    27,191
 
  2,392

 

 


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Source: U.S. Census Bureau | Construction Spending Survey | (301) 763-1605  Last Revised: August 15, 2022