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December saw Small Gains for Residential Construction Spending

Monday, February 2, 2015

December expenditures for construction posted a small gain in December, rising a scant 0.4 percent over November figures.  The Census Bureau said today that spending on both public and private construction was at a seasonally adjusted annual rate of $982.1 billion compared to $978.6 billion the previous month.  The figure represented a 2.2 percent gain from December 2013.

Public and private residential spending was at a rate of $355.01 billion, also a 0.3 percent month-over-month increase but down 3.9 percent from the previous year.  Residential spending, however, was one of the few bright spots for the month with most other categories of spending, both public and private, posting slightly negative numbers.

 

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