Total Construction Spending: Office in the United States
TLOFCONS • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103,701.00
Year-over-Year Change
-0.36%
Date Range
1/1/2002 - 6/1/2025
Summary
This economic trend measures total construction spending on office buildings in the United States. It provides important insights into commercial real estate activity and can signal broader economic conditions.
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
The Total Construction Spending: Office metric tracks the total dollar value of new private and public non-residential office construction projects in the U.S. It is a key indicator of investment and economic momentum in the commercial real estate sector.
Methodology
The data is collected through surveys of construction firms and project owners by the U.S. Census Bureau.
Historical Context
Policymakers and analysts use this metric to assess the health of the commercial real estate market and broader economic trends.
Key Facts
- Office construction spending peaked at $79.6 billion in 2018.
- Spending declined during the COVID-19 pandemic, dropping to $59.3 billion in 2020.
- The metric provides an early signal of changes in the commercial real estate market.
FAQs
Q: What does this economic trend measure?
A: The Total Construction Spending: Office metric tracks the total dollar value of new private and public non-residential office construction projects in the United States.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides important insights into commercial real estate activity and can signal broader economic conditions and investment trends.
Q: How is this data collected or calculated?
A: The data is collected through surveys of construction firms and project owners by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of the commercial real estate market and broader economic trends.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Census Bureau, with a typical 1-2 month lag.
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Total Public Construction Spending: Commercial in the United States
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Total Construction Spending: Total Construction in the United States
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Total Construction Spending: Educational in the United States
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Citation
U.S. Federal Reserve, Total Construction Spending: Office in the United States (TLOFCONS), retrieved from FRED.