U.S. Construction Spending Increases Year-Over-Year

U.S. construction spending in December 2022 was estimated at a seasonally adjusted annual rate of $1.81 trillion, down 0.4% from November but up 7.7% over 2021. Year-to-date spending was 10.2% higher than in 2021 at $1.79 trillion.

Private construction spending was $1.43 trillion, 0.4% below November. Residential totals for December were $857 billion, 0.3% lower than the previous month, and non-residential totals dipped 0.5% from November to $570 billion. See U.S. Census Bureau

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