Construction spending rose 0.9% at a seasonally adjusted annual rate (SAAR) of $1,490.4 billion in December, according to the Census Bureau. December’s figure is 5.7% above the December 2019 estimate of $1,410.3 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,137.6 billion, 1.2% above the revised November estimate of $1,124.4 billion. Private residential construction was at a seasonally adjusted annual rate of $691.0 billion, 3.1% above the revised November estimate of $670.1 billion. Private nonresidential construction was at a seasonally adjusted annual rate of $446.6 billion in December, 1.7% below the revised November estimate of $454.4 billion.
In December, the estimated seasonally adjusted annual rate of public construction spending was $352.8 billion, 0.5% above the revised November estimate of $351.1 billion.
Read the Census release.
