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.

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About Author

Hugo Dante

Hugo Dante is a research associate in the Economic Policy and Research group at the ABA.