Dec. Construction Spending Down 0.2% from Nov. but Up 5% YOY

Washington, DC, February 3, 2020-Construction spending during December 2019 was estimated at a seasonally adjusted annual rate of $1,327.7 billion, 0.2% below the revised November estimate of $1,329.9 billion, according to the U.S. Census Bureau. 

The December figure is 5.0% above the December 2018 estimate of $1,264.8 billion.

The value of construction in 2019 was $1,303.5 billion, 0.3% below the $1,307.2 billion spent in 2018.

Spending on private construction was at a seasonally adjusted annual rate of $991.2 billion, 0.1% 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% 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% below the revised November estimate of $458.9 billion.

The value of private construction in 2019 was $974.7 billion, 2.5% below the $1,000.2 billion spent in 2018. Residential construction in 2019 was $514.3 billion, 4.7% below the 2018 figure of $539.6 billion and nonresidential construction was $460.4 billion, virtually unchanged from the $460.5 billion in 2018.