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Market Update
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August 2022
Construction Put-in-Place, (CPIP): Total U.S. construction spending continued to perform well in June 2022, especially in the private sector. Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that June’s three month total (3MT) construction expenditures grew by 13.8% year on year (y/y) to $461.5 billion. On a 12MT basis, private expenditures advanced 16.0% y/y, state & local decreased by 0.7% y/y, and federal spending increased 2.9% y/y.
July 2022
Architectural Billings Index: June’s 2022 national Architectural Billings Index of 53.2 was down 0.3 points from May’s 53.5, which is within the expansionary zone, (>50). U.S. architecture firms specializing in multifamily residential and Institutional all reported a decrease in design activity in June.
Construction Put-in-Place, (CPIP): Total U.S. construction spending continued to perform well in May 2022, especially in the private sector. Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that May’s three month total (3MT) construction expenditures grew by 11.7% year on year (y/y) to $440.8 billion. On a 12MT basis, private expenditures advanced 16.3% y/y, state & local decreased by 1.1% y/y, and federal spend decreased 1.0% y/y.
June 2022
Architectural Billings Index: May’s 2022 national Architectural Billings Index of 53.5 was down 3.0 points from April’s 56.5, which is within the expansionary zone, (>50). U.S. architecture firms specializing in multifamily residential and Institutional all reported an increase in design activity in May.
Construction Put-in-Place, (CPIP): Total U.S. construction spending continued to perform well in April 2022, especially in the private sector. Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that April’s three month total (3MT) construction expenditures grew by 12.7% year on year (y/y) to $400.1 billion. On a 12MT basis, private expenditures advanced 16.5% y/y, state & local decreased by 0.7% y/y, and federal spend decreased 4.0% y/y.
May 2022
Architectural Billings Index: April’s 2022 national Architectural Billings Index of 56.5 was down 1.5 points from March’s 58.0, which is within the expansionary zone, (>50). U.S. architecture firms specializing in multifamily residential and Institutional all reported an increase in design activity in April.