Total Public Construction Spending: Office in the United States
This dataset tracks total public construction spending: office in the united states over time.
Latest Value
16935.00
Year-over-Year Change
3.53%
Date Range
1/1/2002 - 6/1/2025
Summary
The Total Public Construction Spending: Office in the United States metric tracks government investment in constructing new office buildings and facilities. This statistic is a key indicator of public sector investment in commercial infrastructure.
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 economic series measures the value of public construction projects for office buildings in the United States. It is used by economists and policymakers to gauge government investment in commercial real estate and office capacity.
Methodology
The data is collected and published monthly by the U.S. Census Bureau.
Historical Context
Trends in public office construction spending can signal changes in government priorities and budgets for commercial infrastructure.
Key Facts
- Public office construction spending peaked at $17.2 billion in March 2022.
- Spending declined 4.6% from January to February 2023.
- Office construction accounts for about 5% of total public construction activity.
FAQs
Q: What does this economic trend measure?
A: This metric tracks government investment in the construction of new office buildings and facilities in the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in public office construction spending signal changes in government priorities and budgets for commercial infrastructure development.
Q: How is this data collected or calculated?
A: The data is collected and published monthly by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this indicator to gauge government investment in commercial real estate and office capacity.
Q: Are there update delays or limitations?
A: The data is published with a 1-2 month lag and may be subject to revisions.
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Citation
U.S. Federal Reserve, Total Public Construction Spending: Office in the United States (PBOFCONS), retrieved from FRED.