In October 2012, construction spending was $872.1 billion, a seasonally adjusted annual rate, up 1.4 percent from the revised September 2012 estimate and up 9.6 percent from October 2011.
Construction Spending is a monthly report released by the Economics & Statistics Administration, U.S. Department of Commerce, from data gathered by the Census Bureau of the dollar value of new construction activity. The Value of Construction Put in Place Survey provides monthly estimates of the total dollar value of construction work done in the United States. The survey covers construction work done each month on new structures or improvements to existing structures for private and public sectors. 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 1960 on residential projects (such as homes and apartment buildings), nonresidential projects (such as privately funded office buildings), and public projects (such as schools and highways funded by the local, state, or federal government).
Chris Bryant, MBA, RFC® is the founder and chief executive officer (CEO) of Bryant Wealth Management, Inc., an independent, fee-only, registered investment adviser. Bryant provides financial planning services for individuals, families, trusts, estates, 401(k) plans, IRAs, and pension plans. Chris has a Masters Degree of Business Administration in Financial Planning from Glendale University and the advanced designation Registered Financial Consultant from the International Association of Registered Financial Consultants. Since 1999, Chris has devoted himself to the practice of financial services – helping people make money, save money, protect money, have convenience and peace of mind. Connect with Chris by E-mail or call toll-free 1-800-980-3048.
Chris Bryant is an American financial advisor.