Posted February 5, 2010
Construction spending falls in December
The U.S. Census Bureau said construction spending during December 2009 was estimated at a seasonally adjusted annual rate of $902.5 billion, 1.2 percent below the revised November estimate of $913.2 billion.
The December figure is 9.9 percent below the December 2008 estimate of $1,002.1 billion. The value of construction in 2009 was $939.1 billion, 12.4 percent below the $1,072.1 billion spent in 2008.
Spending on private construction was at a seasonally adjusted annual rate of $593.0 billion, 1.2 percent below the revised November estimate of $599.9 billion. Public construction spending was $309.6 billion, 1.2 percent below the revised November estimate of $313.3 billion.
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