US Construction Spending Ends Year Up 2.6% Over 2016

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The U.S. Census Bureau is reporting that total construction spending in December was estimated at a seasonally adjusted annual rate of $1.2 trillion, which is .07% higher than November’s revised estimate.  In addition, December’s number is 2.6% higher than one year ago.  Private residential construction was at a seasonally adjusted annual rate of $526.1 billion in December, which is 0.5%  higher than revised November’s number.  Nonresidential construction was at a seasonally adjusted annual rate of $437.1 billion in December, which is 1.1% higher than November’s estimate of $432.1 billion.

Click here to read the full report on Census.gov.

 

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Director of Education & Outreach, National Real Estate Investors Association

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