January 2022 P.I.P. Construction Spending – Census Bureau

January 2022 Put in Place spending from the US Census Bureau shows total spend up +1.3% from last month and up +8.2% from January 2021. Total residential spending has increased by +1.3% this month as well, but is up +13.2% for the year. Non-residential construction spending increased as well by +1.3% this month with the 1 year spending increase at +3.7%. Manufacturing and Commercial construction stood out against other sectors over the past year. Manufacturing spend is up +8.4% compared to December 2021 and has increased +31.4% from this time in January of 2021. Commercial construction spending has decreased slightly from last month by -0.4% but has grown +16.8% since last year.

Public spending has decreased marginally since January of 2021 by -1.3% but has increased +0.6% from last month. Public construction spending has grown considerably in the Power sector rising +22.2% over the previous year. However, spending has fallen from last month by -2.6%. Public spending in the Health construction sector has increased +5.9% from last month and is up +15.1% over the past 12 months ending in January. Spending on Public office construction has increased +9.1% over the past year, and +2.9% from last month. Public spending on residential construction has fallen -5.6% over the last year but has risen +3.6% from the past month.