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Monday, February 2, 2015

Construction Spending Increased in December

Construction spending increased 0.4% in December on a seasonally adjusted basis. Year-over-year construction spending increased 2.2%.



Private residential construction grew 0.3%, as single family construction grew 1.2% and multi-family construction grew 0.3%.

Non-residential construction edged down 0.2% in December, yet was 5.3% above the year-ago level.

The value of private construction in 2014 was $687.0 billion, 7.2% above the $641.1 billion spent in 2013.

Public construction rose 1.1% from November and 6.7% from the year-ago level. The value of public construction in 2014 was $274.4 billion, 1.8% above the $269.6 billion spent in 2013.

Read the Census report.

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