Dec. Construction Spending Fell From Nov. But Rose 1.6% YOY

Washington, DC, March 4, 2019-Construction spending during December 2018 was estimated at a seasonally adjusted annual rate of $1,292.7 billion, 0.6% below the revised November estimate of $1,300.6 billion, according to the U.S. Census Bureau.

The December figure is 1.6% above the December 2017 estimate of $1,272.6 billion.

The value of construction in 2018 was $1,297.7 billion, 4.1% above the $1,246.0 billion spent in 2017.

Spending on private construction was at a seasonally adjusted annual rate of $991.2 billion, 0.6% below the revised November estimate of $997.1 billion. Residential construction was at a seasonally adjusted annual rate of $536.7 billion in December, 1.4% below the revised November estimate of $544.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $454.5 billion in December, 0.4% above the revised November estimate of $452.9 billion.