Construction spending in December 2013 was estimated at a seasonally adjusted rate of $930.5 billion - 5.3 percent higher than the December 2012 estimate of $883.6 billion and 0.1 percent higher than the revised November 2013 estimate of $929.9 billion. The figures, released Monday by the U.S. Census Bureau of the Department of Commerce, indicate that the value of total construction in 2013 was $898.4 billion; that's 4.8 percent higher than the $857.0 billion spent in 2012.
Overall, the value of private construction in 2013 was $627.2 billion, 8.5 percent higher than the $577.9 billion spent in 2012; residential construction was up 18.0 percent, while non-residential construction dipped less than 0.5 percent. The value of public construction in 2013 decreased from the previous year, down 2.8 percent to $271.2 billion, while educational construction fell 8.4 percent to $62.4 billion.
