Construction Put-In-Place (CPIP)

­­­Construction Put-in-Place (CPIP): Total U.S. construction spending continued to perform well in November 2020, especially in the Private sector. Census Bureau non-seasonally adjusted (NSA), constant dollar CPIP data showed that November’s three month total, (3MT) construction expenditures grew by 8.0% year on year (y/y), to $383.6 billion (B). On a 3MT basis, private expenditures advanced 10.1% y/y, while State & Local advanced by 2.8% y/y.

Total Construction: Table 1 presents CPIP data for total construction for both 3 month moving total and 12 month moving total y/y metrics. Momentum, defined as 3MT minus 12MT is also shown. Momentum provides market direction with green indicating stronger activity and red indicating slowing activity. Private construction accounted for 72.3% of the total three months expenditures ending in November. State & local spending accounted for 25.8%, the remaining 1.9% was for federally financed projects. The private sector posted a 10.1% and 7.9% increase for 3MT and 12MT y/y comparisons, respectively, resulting in a 2.2% increase in momentum for the month of November.  

Single-family residential construction recorded 17.1% increase on a 3MT basis and a 9.3% increase on a 12MT basis. On a 3MT basis, State and Local total construction recorded a 2.8% increase in spending.


Non-residential Construction: Table 2 shows the breakdown of non-residential construction (NRC). The overall growth rate was 6.7% on a 3MT y/y and 7.9% increase on a 12MT y/y basis resulting in a negative 1.2% momentum.

The growth rate of private NRC was 7.2% increase for the 3MT, and the rolling 12MT value was 7.4%, leading to a negative momentum of 0.2%. State and local expenditures were positive for 3MT and negative for 12MT metrics.

At Gerdau we monitor the CPIP numbers every month to keep you, our customers informed on the health of the U.S. construction market.



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