Construction spending declined in December
Construction spending during December 2018 was estimated at a seasonally adjusted annual rate of $1,292.7 billion, 0.6 percent below the November estimate of $1,300.6 billion.
The December figure is 1.6 percent above the December 2017 estimate of $1,272.6 billion. The value of construction in 2018 was $1,297.7 billion, 4.1 percent above the $1,246.0 billion spent in 2017.
Spending on private construction was at a seasonally adjusted annual rate of $991.2 billion, 0.6 percent below November.
Residential construction was at a seasonally adjusted annual rate of $536.7 billion in December, 1.4 percent below November. Nonresidential construction was at a seasonally adjusted annual rate of $454.5 billion in December, 0.4 percent above November.
The value of private construction in 2018 was $995.6 billion, 3.4 percent above the $962.8 billion spent in 2017.
Residential construction in 2018 was $542.3 billion, 3.3 percent above the 2017 figure of $524.9 billion and nonresidential construction was $453.4 billion, 3.5 percent above the $437.8 billion in 2017.
In December, the estimated seasonally adjusted annual rate of public construction spending was $301.5 billion, 0.6 percent below the revised November estimate of $303.5 billion.
Educational construction was at a seasonally adjusted annual rate of $77.5 billion, nearly the same as the revised November estimate of $77.5 billion.
Highway construction was at a seasonally adjusted annual rate of $89.1 billion, 0.9 percent below the revised November estimate of $89.9 billion.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
