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Construction Spending Rises Less Than Expected

Monday, February 1, 2016

Construction spending scrambled back into positive territory by a tiny bit in December, gaining 0.1 percent from November's level to an estimated seasonally adjusted annual rate of $1,116.6 billion.  The gain came even as the November estimate was revised down even further from a 0.4 percent loss to a negative 0.6 percent at $1.116.0 billion.  The December figure was still well above the spending pace in December 2014 of $1,031.6 billion, an increase of 8.2 percent.  

The December numbers, released Monday by the U.S. Census Bureau, were significantly lower than analysts had predicted, a range, according to Econoday and Bloomberg of 0.3 percent to 1.3 percent with a consensus of 0.6 percent.

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