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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

May 2021

 
Seasonally Adjusted Annual Rate
 
Not Seasonally Adjusted
 
(millions of dollars)
 
(millions of dollars)
Total
 1,545,272
 
131,964
  Private
  1,203,308
 
102,444
     Residential
  751,747
 
64,619
     Nonresidential
  451,561
 
 37,825
  Public
   341,964
 
 29,520
     State and Local
  319,593
 
 27,686
     Federal
    22,370
 
  1,835

 

 


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Source: U.S. Census Bureau | Construction Spending Survey | (301) 763-1605  Last Revised: June 29, 2021