Posted February 1, 2011
Construction spending falls in December
Construction spending during December 2010 was estimated at a seasonally adjusted annual rate of $787.9 billion, 2.5 percent below the revised November estimate of $807.8 billion.
The U.S. Census Bureau of the Department of Commerce said the December figure is 6.4 percent below the December 2009 estimate of $841.8 billion.
The value of construction in 2010 was $814.2 billion, 10.3 percent below the $907.8 billion spent in 2009.
Spending on private construction was at a seasonally adjusted annual rate of $486.9 billion, 2.2 percent below the revised November estimate of $498.0 billion.
Public construction spending was $301.0 billion, 2.8 percent below the revised November estimate of $309.8 billion.
