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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

March 2022

 
Seasonally Adjusted Annual Rate
 
Not Seasonally Adjusted
 
(millions of dollars)
 
(millions of dollars)
Total
 1,730,469
 
135,164
  Private
  1,379,653
 
110,497
     Residential
  882,045
 
70,387
     Nonresidential
  497,609
 
 40,110
  Public
   350,816
 
 24,667
     State and Local
  322,457
 
 22,356
     Federal
    28,359
 
  2,311

 

 


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Source: U.S. Census Bureau | Construction Spending Survey | (301) 763-1605  Last Revised: March 11, 2022