U.S. construction spending in December 2024 was estimated at a seasonally adjusted annual rate of $2.19 trillion, up 0.5% from November 2024 and 4.3% higher than the same month in 2023. Construction spending grew 6.5% in 2024 compared to 2023.
Private spending rose 0.9% to $1.69 trillion in December compared to November. Residential expenditures increased 1.5% to $939.5 billion, and non-residential expenditures were $749.0 billion, up 0.1% from the prior month.
Educational construction spending in the private and public sectors totaled $134.7 billion, down 0.6% from the previous month but climbing 4.5% from December 2023. Construction spending on healthcare was $68.1 billion, decreasing 1.3% from November and 1.8% from the comparable month in 2023. Commercial construction spending totaled $124.5 billion, 0.3% lower than November and falling 6.0% from December 2023. See U.S. Census Bureau
