U.S. Construction Spending Rises Last Year
U.S. construction spending during December 2017 was estimated at a seasonally adjusted annual rate of $1.25 trillion, rising 0.7% from November and 2.6% higher than the same period a year ago. Total spending in 2017 increased 3.8% from 2016 to $1.23 trillion.
December private construction spending rose 0.8% from the previous month to a seasonally adjusted annual rate of $963.2 billion. Residential levels were up 0.5% from November to $526.1 billion, and non-residential totals increased 1.1% to $437.1 billion over the same period. The total value of private construction in 2017 was $950.7 billion, rising 5.8% from 2016. Total residential construction rose 10.6% to $515.9 billion, and nonresidential construction was up 0.6% over 2016 at $434.8 billion. See U.S. Census Bureau