Construction spending rose in December
Construction spending rose by 0.1 percent during December, following a drop in spending of 0.6 percent in November.
Total construction spending for 2015 was $1.1 trillion, 10.5 percent above the $993.4 billion spent in 2014, the highest total since 2007.
Spending on private construction was at a seasonally adjusted annual rate of $824.0 billion, 0.6 percent below the revised November estimate of $828.8 billion. Residential construction was at a seasonally adjusted annual rate of $429.6 billion in December, 0.9 percent above the revised November estimate of $425.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $394.4 billion in December, 2.1 percent below the revised November estimate of $403.0 billion.
The value of private construction in 2015 was $806.1 billion, 12.3 percent above the $717.7 billion spent in 2014.
Residential construction in 2015 was $416.8 billion, 12.6 percent above the 2014 figure of $370.0 billion and nonresidential construction was $389.3 billion, 12.0 percent above the $347.7 billion in 2014.
In December, the estimated seasonally adjusted annual rate of public construction spending was $292.5 billion, 1.9 percent above the revised November estimate of $287.1 billion. Educational construction was at a seasonally adjusted annual rate of $69.4 billion, 0.5 percent below the revised November estimate of $69.8 billion. Highway construction was at a seasonally adjusted annual rate of $95.4 billion, 9.4 percent above the revised November estimate of $87.2 billion.
The value of public construction in 2015 was $291.2 billion, 5.6 percent above the $275.7 billion spent in 2014.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
