December 2015 Construction Spending Up from December 2014

March 2016

Private construction led the way over public construction in December 2015.
    
The U.S. Census Bureau announced that construction spending during December 2015 was estimated at a seasonally adjusted annual rate of $1,116.6 billion, 0.1 percent above the revised November estimate of $1,116.0 billion. The December figure is 8.2 percent above the December 2014 estimate of $1,031.6 billion.
    
The value of construction in 2015 was $1,097.3 billion, 10.5 percent above the $993.4 billion spent in 2014.
    
Spending on private construction was at a seasonally adjusted annual rate of $824.0 billion, 0.6 percent below the revised November estimate of $828.8 billion. Residential construction was at a seasonally adjusted annual rate of $429.6 billion in December, 0.9 percent above the revised November estimate of $425.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $394.4 billion in December, 2.1 percent below the revised November estimate of $403.0 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 in 2015 was $416.8 billion, 12.6 percent above the 2014 figure of $370.0 billion. Nonresidential construction was $389.3 billion, 12.0 percent above the $347.7 billion in 2014.
    
In December, the estimated seasonally adjusted annual rate of public construction spending was $292.5 billion, 1.9 percent above the revised November estimate of $287.1 billion. Educational construction was at a seasonally adjusted annual rate of $69.4 billion, 0.5 percent below the revised November estimate of $69.8 billion.
    
The value of public construction in 2015 was $291.2 billion, 5.6 percent above the $275.7 billion spent in 2014. Educational construction in 2015 was $67.3 billion, 6.8 percent above the 2014 figure of $63.0 billion.