The
US Census Bureau of the Department of Commerce today announced that
Construction spending during December 2015 was estimated at a seasonally adjusted annual rate of $1,116.6 billion 0.1 percent (±1.2%) above the revised November estimate of $1,116.0 billion. The December figure is 8.2 percent (±1.8%) above the December 2014 estimate of $1.031.6 billion.
The value of
construction in 2015 was $1,097.3 billion, 10.5 percent (±1.2%) above the $993.4 billion spent in 2014.
PRIVATE CONSTRUCTIONSpending on private
construction was at a seasonally adjusted annual rate of $824.0 billion, 0.6 percent (±0.8%) below the revised November estimate of $828.8 billion. Residential
construction was at a seasonally adjusted annual rate of $429.6 billion in December, 0.9 percent (±1.3%) above the revised November estimate of $425.8 billion. Nonresidential
construction was at a seasonally adjusted annual rate of $394.4 billion in December, 2.1 percent (±0.8%) below the revised November estimate of $403.0 billion.
The value of private
construction in 2015 was $806.1 billion, 12.3 percent (±1.5%) above the $717.7 billion spent in 2014. Residential
construction in 215 was $416.8 billion, 12.6 percent (±2.1%) above the 2014 figure of $370.0 billion and nonresidential
construction was $389.3 billion, 12.0 percent (±1.5%) above the $347.7 billion in 2014.
PUBLIC CONSTRUCTIONIn December, the estimated seasonally adjusted annual rate of public
construction spending was at $292.5 billion, 1.9 percent (±2.0%) above the revised November estimate of $287.1 billion. Educational
construction was at a seasonally adjusted annual rate of $69.4 billion, 0.5 percent (±3.9%) below the revised November estimate of $69.8 billion. Highway
construction was at a seasonally adjusted annual rate of $95.4 billion, 9.4 percent (±4.4%) above the revised November estimate of $87.2 billion.
The value of public
construction in 2015 was $291.2 billion, 5.6 percent (±1.6%) above the $275.7 billion spent in 2014. Educational
construction in 2015 was $67.3 billion, 6.8 percent (±3.5%) above the 2014 figure of $63.0 billion and highway
construction was $89.6 billion, 6.7 percent (±3.9%) above the $84.0 billion in 2014.