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State and Local Government Transportation Construction Value
Highway and Street Construction (monthly data, not seasonally adjusted)
Air, Land, and Water Transportation Construction (monthly data, not seasonally adjusted)
The value of transportation construction shows the investment in new and rebuilt infrastructure. In the near-term, this construction creates jobs. The long-term effect of improved transportation infrastructure is a lowered cost of transportation, which helps enable growth in the economy.
Transportation construction includes new infrastructure put in place, as well as conversions, expansions, reconstructions, and rehabilitations of existing transportation infrastructure; it does not include maintenance or land acquisition. State and local governments spent $101.2 billion on transportation infrastructure construction in 2011, a 6.1% decrease from 2010. Federal expenditures on highway and other transportation construction were $2.7 billion in 2011, as most of the revenues collected at the federal level are redistributed to the states.
|State and Local Transportation Construction Value||Oct-11||Oct-12|
|Highway and Street Construction (millions of dollars)||8,458||8,298|
|Percent change from same month previous year||-4.5||-1.9|
|Air Transportation Construction (millions of dollars)||842||1,142|
|Percent change from same month previous year||-20.9||35.6|
|Land Transportation Construction (millions of dollars)||1,016||1,177|
|Percent change from same month previous year||-13.2||15.8|
|Water Transportation Construction (millions of dollars)||191||205|
|Percent change from same month previous year||41.5||7.3|
NOTES: The current value is compared to the value from the same period in the previous year to account for seasonality.
Air transportation includes terminals, runways, towers, and other facilities. Land transportation includes terminals, transit facilities, railroad track and bridges, and other facilities. Water transportation includes docks, wharves, marinas, and other terminals, but does not include levees, locks, jetties, or sea walls.
SOURCE: U.S. Department of Commerce, Census Bureau, Construction Spending, available at http://www.census.gov/construction/c30/c30index.html as of December 2012.