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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 2015

 
Seasonally Adjusted Annual Rate
 
Not Seasonally Adjusted
 
(millions of dollars)
 
(millions of dollars)
Total
 1,035,763
 
 88,167
  Private
  752,354 
 
  64,331 
     Residential
  359,513 
 
  31,735 
     Nonresidential
  392,841
 
  32,596
  Public
  283,409
 
  23,836
    State and Local
  260,063
 
  21,963
     Federal
    23,346
 
   1,873

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