blog > Market Snapshot: Second-Quarter Construction Spending

Market Snapshot: Second-Quarter Construction Spending

by Rafael Barbosa

Insights from the latest construction spending data released by the U.S. Census Bureau.

PUBLISHED: 8/13/2024

Market Snapshot: Second-Quarter Construction Spending

Construction spending is trending towards a 6% increase from last year’s total based on June’s seasonally adjusted annual rate, as reported by the U.S Census Bureau. Data center construction is more than 62% higher, and manufacturing project activity is up 19%. The single-family market continued its gradual recovery and is up by nearly 10% from levels in June 2023. At the end of the second quarter, however, overall spending growth slowed, mainly driven by nonresidential markets.

Construction Spending Percentage Change – June 2024 vs. June 2023 (Seasonally Adjusted Rate)

To learn more about market intelligence data and research services offered by Morrissey Goodale, schedule an intro call with Rafael Barbosa.

October 21-23, 2025 Houston, TX

Texas and the South M&A and Business Symposium

Learn and network with over 200 AE and environmental consulting industry executives, investors, and experts at the spectacular Post Oak Hotel at Uptown Houston.

Learn More

Current Issue of Word on the Street

Weekly real-time market and industry intelligence from Morrissey Goodale.

Read Newsletter

Current Issue of M&A Update

The AE industry’s weekly go-to source for the latest information on M&A deals and trends.

Read Newsletter

Current Issue of the AE Industry Dashboard

Bringing you snapshots of key market sectors, business management ideas, and must-know information for managing and leading your firm.

Read Newsletter

Current Issue of the AE Leadership Letter

Brining you new ideas for impacting people performance including the latest on company culture, work-life balance, time management, developing next-generation leaders, and new management ideas being implemented in other industries.

Read Newsletter