Construction: United States

This report forecasts to 2023 US construction expenditures in nominal and real (inflation-adjusted) US dollars. Total expenditures in nominal and real terms are segmented by market in terms of: residential building (single-unit residential, multiple-unit residential, residential improvements), commercial building (office, trade, and lodging building; institutional building; industrial building; transportation building; other commercial buildings such as public safety and recreation), and nonbuilding (highways, streets, and other transportation; power; sewer and water; telecommunication; other nonbuilding construction such as breakwater systems and dams). Total expenditures in nominal dollars are also segmented by US region as follows: South (South Atlantic, West South Central, East South Central), West (Pacific, Mountain), Midwest (East North Central, West North Central), and Northeast (Middle Atlantic, New England).

To illustrate historical trends, total expenditures and the various market segments are provided in annual series from 2008 to 2018.

The scope of this report represents new construction and improvements such as additions, alterations, and major replacements (e.g., heating systems). Maintenance and repairs for existing structures and service facilities are excluded. Also excluded are land acquisition costs, drilling of gas and oil wells, and digging and shoring of mines.

As defined by the US Census Bureau, expenditures represent architectural and engineering costs; labor, material, and overhead costs; interest and taxes paid during construction; and contractors' profits.

Key macroeconomic indicators are also provided with quantified trends. Other various topics, including profiles of pertinent leading companies, are covered in this report. A full outline of report items by page is available in the Table of Contents.

Related NAICS Codes:
236115 New Single-Family Housing Construction (except For-Sale Builders)
236116 New Multifamily Housing Construction (except For-Sale Builders)
236117 New Housing For-Sale Builders
236210 Industrial Building Construction
236220 Commercial and Institutional Building Construction
237110 Water and Sewer Line and Related Structures Construction
237120 Oil and Gas Pipeline and Related Structures Construction
237130 Power and Communication Line and Related Structures Construction
237310 Highway, Street, and Bridge Construction
237990 Other Heavy and Civil Engineering Construction

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