Keeping you up to date on the latest data releases.
- Construction Spending
Private construction spending rose in December to $663.9 billion, 1.0 percent above the revised November estimate of $657.1 billion. December’s results are 8.0 percent higher on a year-over-year basis. Residential construction spending rose 2.6 percent over the month to $352.6 billion. New multifamily construction spending grew 0.5 percent in December and is up 27.3 percent year-over-year. New single-family construction rose 3.4 percent and is up 21.6 percent since last December. Private nonresidential construction spending was at $311.3 billion, 0.7 percent below the revised November estimate of $313.4 billion. Six of the eleven nonresidential construction sectors saw month-to-month declines in spending with the amusement and recreation sector posting the largest monthly decline of 6.0 percent. The power sector registered the largest monthly increase of 1.9 percent.