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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 2020

 
Seasonally Adjusted Annual Rate
 
Not Seasonally Adjusted
 
(millions of dollars)
 
(millions of dollars)
Total
 1,356,409
 
116,215
  Private
  1,001,209
 
85,932
     Residential
  535,933
 
46,750
     Nonresidential
  465,275
 
 39,182
  Public
   355,200
 
 30,283
     State and Local
  329,900
 
 28,245
     Federal
    25,300
 
  2,038

 

 


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Source: U.S. Census Bureau | Construction Spending Survey | (301) 763-1605  Last Revised: May 05, 2020