Article source: ConstructConnect
Table 1 is a one-place depiction of the key percentage-change metrics for the 2022 Q1 put-in-place (PIP) construction dollar volume statistics from the Census Bureau.
Total year-to-date spending is ahead by +12.0, owing more to residential, at +18.6%, than to nonresidential, +5.8%. The dollar volumes on which the percentage changes are based are in ‘current’ dollars. ‘Constant’ dollars would factor out inflation.
Given the exceptional advances in material input costs over the past year (see ‘Spikes Everywhere’ article here), and some decent-sized jumps in compensation rates as well, there’s a good chance the nonresidential percentage change year to date (+5.8%) would be close to zero or even possibly negative, if a price index were applied to the results.
