Research >> Economics
Construction Spending decreased 0.2% in December 2019
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Total Construction
Construction spending during December 2019 was estimated at a seasonally adjusted annual rate of $1,327.7 billion, 0.2 percent (± 0.8 percent)* below the revised November estimate of $1,329.9 billion. The December figure is 5.0 percent (±1.3 percent) above the December 2018 estimate of $1,264.8 billion. The value of construction in 2019 was $1,303.5 billion, 0.3 percent (±1.0 percent)* below the $1,307.2 billion spent in 2018.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $991.2 billion, 0.1 percent (±0.5 percent)* below the revised November estimate of $992.2 billion. Residential construction was at a seasonally adjusted annual rate of $540.7 billion in December, 1.4 percent (±1.3 percent) above the revised November estimate of $533.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $450.5 billion in December, 1.8 percent (±0.5 percent) below the revised November estimate of $458.9 billion.
The value of private construction in 2019 was $974.7 billion, 2.5 percent (±1.0 percent) below the $1,000.2 billion spent in 2018. Residential construction in 2019 was $514.3 billion, 4.7 percent (±2.1 percent) below the 2018 figure of $539.6 billion and nonresidential construction was $460.4 billion, virtually unchanged from (±1.0 percent)* the $460.5 billion in 2018.
Posted: February 3, 2020 Monday 10:00 AM