Article source: ConstructConnect
- Three Key Words: Congestion, Propensities and Mobility
- Residential Construction Outlook
- Nonresidential Building Construction Outlook
- Engineering Construction Outlook (scroll way down)
- Appendix A: ‘Starts’ versus ‘Put-in-place’ Statistics
U.S. put-in-place construction spending, during the coronavirus health crisis, has benefitted from the carryover of work begun last year. 2019 construction starts included an inordinately large number of mega projects valued at $1 billion or more each. There were 35 such projects last year, with a summed value near $80 billion, or 15% of nonresidential groundbreakings.
At the end of this piece is an appendix outlining the differences between ‘starts’ and ‘put-in-place’ statistics on construction activity.
ConstructConnect’s latest ‘put-in-place’ (PIP) forecasts are set out in the Table below and appear in a series of type-of-structure graphs. The graphs of ‘actuals’ and ‘forecasts’ also include Excel-generated trend lines.
Mostly, the trend lines capture only a loose approximation of how the data series moves over time. In a few instances, however, mainly among engineering sub-categories of work, there is a close relationship between ‘trend’ and ‘actuals/forecasts’. Those cases yield high R2 values, a statistical term and calculation indicating close correlation.
