Article source: ConstructConnect
In 2017, as calculated by the Census Bureau, total U.S. put-in-place construction activity was +4.5% year over year (y/y), with all the strength coming from residential, +12.2%, since nonresidential work was a little worse than flat, -0.5%. (‘Put-in-place’ as a concept captures work-in-process or progress payments as projects proceed.)
Over the past five years, 2013 through 2017, the annual total of U.S. put-in-place construction has averaged +8.0% y/y, led by exceptional growth in residential, +14.0%, with nonresidential doing okay, +4.5%, but not shattering any records.
The latest data from the Census Bureau, for August 2018, shows year-to-date results (i.e., versus the first eight months of last year) being +5.2% for total; +6.5% for residential; and +4.3% for nonresidential, +4.3%.
