Construction spending in December 2015 increased 0.1 percent to a seasonally adjusted annual rate of $1,116.6 billion compared with November’s rate of $1,116.0 billion. The December figure is an 8.2 percent increase year-over-year, according to the U.S. Census Bureau.
The value of construction in 2015 was $1,097.3 billion, 10.5 percent higher than the $993.4 billion spent in 2014.
Private construction spending in December 2015 was at a seasonally adjusted annual rate of $824.0 billion, 0.6 percent below the November rate of $828.8 billion.
Residential construction was at a seasonally adjusted annual rate of $429.6 billion in December, a 0.9 percent increase from November’s rate of $425.8 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’s value was $416.8 billion in 2015, 12.6 percent above the 2014 figure of $370.0 billion.
