Monday, February 1, 2010

Construction Spending Falls 1.2 Percent, Driven By Drop in Residential Spending

In December, new construction spending fell 1.2 percent for the second consecutive month. The decline was driven by a 2.8 percent drop in private residential spending. Residential spending had fallen significantly over the past two months after surging upward in October by 11.8 percent. From a year prior, total construction spending was down 9.9 percent and residential spending was down 10.9 percent.

Private non-residential spending rose 0.2 percent, the first increase since March 2009. Still, non-residential spending was down 17.7 percent from a year prior. Public spending also fell over the month, declining 1.2 percent but was up 1.3 percent from a year prior.

m/m % changeDecNovOctSepAugJul
    Private Residential-2.8-1.411.8-
    Private Non-Residential0.2-0.9-3.6-3.7-2.9-3.0

10.02.01 (Source: Census Bureau)

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