December Construction Spending Up

U.S. construction spending in December 2023 was estimated at a seasonally adjusted annual rate of $2.1 trillion, growing 0.9% from November 2023 and 13.9% higher than December 2022. Construction spending for the year increased 7.0% to $2.0 trillion over 2022.

Private construction spending was $1.6 trillion, climbing 0.7% from November 2023. Residential totals were $911.7 billion in December, up 1.4% from the previous month. Non-residential spending was $708.0 billion, dipping 0.2% from November 2023. See U.S. Census Bureau

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