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February 01, 2017US CONSTRUCTION SPENDING, DECEMBER 2016 
US construction spending decreased by 0.2 per cent in December compared to November, to a seasonally adjusted annual rate of $1,182 billion. Residential construction spending increased by 0.4 per cent while non-residential spending decreased by 0.7 per cent. Private spending increased by 0.2 per cent while public spending decreased by 1.7 per cent.
Compared to December of 2015, total construction spending was up 4.2 per cent, with increased residential (3.6 per cent) and non-residential spending (4.6 per cent). Private spending increased by 6.3 per cent while public spending decreased 1.8 per cent.
On an annual basis, spending in 2016 was up 4.7 per cent compared to 2015, with increases across residential (5.3 per cent) and non-residential (4.4 per cent) spending as well as private spending (6.5 per cent), with a decline in public spending (-0.2 per cent).
US construction spending, especially residential spending, is an important indicator for Nova Scotia's wood exports. Though not a perfect predictor, US residential construction spending and the value of Nova Scotia's wood exports follow similar directions over time.
Source: US Census Bureau
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