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U.S. Construction Spending Increases in 2016

U.S. construction spending during December 2016 was estimated at a seasonally adjusted annual rate of $1.18 trillion, 0.2% below the revised November estimate, and 4.2% above the comparable month in 2015. For 2016, construction spending was valued at $1.16 trillion, 4.5% above 2015.

Private construction spending rose 0.2% above November to $897 billion, with residential levels up 0.5% to $466.9 billion and nonresidential totals nearly even at 430.1 billion.  For 2016, the value of private construction rose 6.4% over 2015 to $876.3 billion, with residential numbers rising 5.2% to $456.2 billion and nonresidential construction up 7.8% to $420.1 billion. See U.S. Census Bureau

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