Construction Spending Sees Highest Increase Since 1996

May 1, 2005
/ Print / Reprints /
/ Text Size+
According to the U.S. Commerce Department, construction spending in 2004 rose 9 percent to $998.4 billion, the strongest increase since 1996, which had a 10.4 percent jump. Total private residential building rose by 14 percent to $542.7 billion, the biggest boost in a decade. Total private construction - which includes office buildings, hotels and other commercial entities - increased 10.9 percent. Private building projects were up slightly, 3.4 percent, to $233.5 billion for the year. In related news, sales of new single-family homes for 2004 were 1.183 million and set a new annual sales record for the fourth year in a row. It is an 8.9 percent increase from the 2003 record of 1.086 million homes.

Did you enjoy this article? Click here to subscribe to Plumbing & Mechanical. 

You must login or register in order to post a comment.



Image Galleries

2014 Truck of the Month

PM has featured so many great plumbing service trucks! See plenty of them here in our Truck Of The Month Archives page. Are you proud of your truck? Go to our Truck of the Month page to find out how your service truck could be chosen!

1/27/15 2:00 pm EST

Grow Your Business and Improve Operations with New Payment Technology

Attend this free webinar to learn how new developments in payment technology can help you close more jobs, increase upselling opportunities and improve operations.

Plumbing and Mechanical

cover sized correctly

2014 December

The December issue is the 2015 B.I.G. Book!
Table Of Contents Subscribe

Where do you look for new employees?

Where do you look for new employees?
View Results Poll Archive

The Plumbing and Mechanical Store

2015 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


Connect to PM on Facebook Connect to PM on Twitter  Watch PM on YouTube    Connect to PM on Linked InGoogle+

Truck of the Month

Truck of the month

Are you proud of how your service truck looks? Do the graphics give people whiplash as they drive by? Have your calls increased because people remember your truck — and your company name? If so, we’d like to see it, too! Click here to find out how your service truck could be chosen as PM's Truck of the Month.