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Barbara Ruszel Economist
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January 03, 2018

US construction spending increased by 0.7 per cent in December to a level of $1,253.3 billion, faster than the (revised) gain of 0.6 per cent reported for November. Year over year, spending is 2.6 per cent above December 2016.

US construction in 2017 was valued at $1,230.6 billion, 3.8 per cent above the level of $1,185.7 billion in 2016.   

Private constuction was $950.7 billion in 2017, 5.8 per cent above 2016 levels. Public construction in 2017 was $279.8 billion, 2.5 per cent below the $287.0 billion spent in 2016. 

The gains in US construction spending have been largely in the residential sector, which is up 0.4 per cent month to month, up 6.2 per cent year over year, and for the whole of 2017 is 10.6 per cent above the annual spending of 2016.

US nonresidential construction spending was up 0.8 per cent month to month, 0.1 per cent year over year, and 0.6 per cent higher than the annual value in 2016 at a value of $434.8 billion in 2017. 

Source: US Census Bureau