Census Launches New Data Product to Track Monthly National and Regional Construction Spending for Private Manufacturing
The U.S. Census Bureau (Census) launched a new experimental data product that features monthly construction spending estimates for private manufacturing. These estimates measure the construction work done on private new manufacturing structures or improvements to existing structures and include the cost of labor and materials, architectural and engineering work, overhead, interest, taxes paid during construction, and contractor’s profits.
For the month of December 2022, the estimates show that the total value of private manufacturing construction was $10.7 billion, down about $100 million from the November 2022 total of $10.8 billion.
The Census notes that December 2022 is the first month this data was published and said that it intends to continue publishing this data on a monthly basis.
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