Construction Spending Rate Fell Slightly in December

Construction spending fell 0.2 percent at a seasonally adjusted annual rate (SAAR) of $1,327.7 billion in December, according to the Census Bureau. December’s figure is 0.3 percent lower than the December 2018 estimate of $1,307.2 billion.

Spending on private construction was at a seasonally adjusted annual rate of $991.2 billion, 0.1 percent below the revised November estimate of $992.2 billion.

Private residential construction was at a seasonally adjusted annual rate of $540.7 billion in December, 1.4 percent above the revised November estimate of $533.3 billion.

Private nonresidential construction was at a seasonally adjusted annual rate of $450.5 billion in December, 1.8 percent below the revised November estimate of $458.9 billion.

In December, the estimated seasonally adjusted annual rate of public construction spending was $336.4 billion, 0.4 percent below the revised November estimate of $337.7 billion.

Read the Census release.

Share.

About Author

Hugo Dante is an economist in Washington, D.C. He was previously an economic research specialist at ABA. In addition to the ABA Banking Journal, his writing has appeared in The Hill, The National Interest and Townhall. Views expressed here are his own.