Construction spending during December 2024 was estimated at a seasonally adjusted annual rate of $2,192.2 billion, 0.5% above the revised November estimate of $2,180.3 billion. The November figure is 4.3% above the December 2023 estimate of $2,023.7 billion.
Spending on private construction was at a seasonally adjusted annual rate of $1,688.5 billion, 0.9% above the revised November estimate of $1,674.1 billion. Residential construction was at a seasonally adjusted annual rate of $939.5 billion in December, 1.5% above the revised November estimate of $925.5 billion. Nonresidential construction was at a seasonally adjusted annual rate of $749.0 billion in December, 0.1% above the revised November estimate of $748.6 billion.
In December, the estimated seasonally adjusted annual rate of public construction spending was $503.6 billion, 0.5% below the revised November estimate of $506.2 billion. Educational construction was at a seasonally adjusted annual rate of $109.5 billion, 0.6% below the revised November estimate of $110.2 billion. Highway construction was at a seasonally adjusted annual rate of $143.3 billion, 0.7% above the revised November estimate of $142.3 billion.
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