Keeping you up to date on the latest data releases.
- Construction Spending
After an upward revision to October and a slight downward revision to November, private construction spending improved 28.5 percent (annualized rate) in December. Nonresidential spending increased by 3 percent, while residential spending increased nearly 1 percent over December. Throughout 2011, private construction increased 8.3 percent. Nonresidential spending is up 11.4 percent from this time last year even with the slight slowdown in November. Manufacturing and communication pushed the increase while automotive, amusement, and lodging continued their four-month decline. On the residential side, multi-family construction has expanded by 18.8 percent, outperforming single-family home construction (3.66 percent) over the past year. Home improvement is starting to see a flat-to-upward trend: December came in at $114.1 billion, which is a 4.4 percent increase over a year ago.