Total Public Construction Spending: Office in the United States
Millions of Dollars, Not Seasonally Adjusted
PBOFCON • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,486.00
Year-over-Year Change
3.12%
Date Range
1/1/2002 - 6/1/2025
Summary
The 'Millions of Dollars, Not Seasonally Adjusted' trend measures the total value of public building construction contracts awarded in the United States. This key metric provides insight into the health and investment levels of the construction industry.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series tracks the dollar value of new construction contracts awarded for public buildings, such as educational, institutional, and commercial facilities. It is a leading indicator of construction activity and investment, which are important drivers of economic growth.
Methodology
The data is collected through surveys of construction project owners and contractors by the U.S. Census Bureau.
Historical Context
Policymakers and analysts monitor this trend to assess the strength of the construction sector and broader economic conditions.
Key Facts
- The value of public building construction contracts averaged $37.4 billion in 2022.
- Public construction accounts for about 40% of total construction spending in the U.S.
- The trend reached a record high of $57.4 billion in January 2020.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Dollars, Not Seasonally Adjusted' trend measures the total value of new construction contracts awarded for public buildings in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into investment and activity levels in the construction industry, which is an important driver of economic growth. It is closely monitored by policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction project owners and contractors by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the strength of the construction sector and broader economic conditions, as public building investment is a key component of overall construction activity.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Millions of Dollars, Not Seasonally Adjusted (PBOFCON), retrieved from FRED.