Construction spending rose 1.0 percent in December
Construction spending during December 2020 was estimated at a seasonally adjusted annual rate of $1,490.4 billion, 1.0 percent above the revised November estimate of $1,475.6 billion.
The December figure is 5.7 percent above the December 2019 estimate of $1,410.3 billion. The value of construction in 2020 was $1,429.7 billion, 4.7 percent above the $1,365.1 billion spent in 2019.
Spending on private construction was at a seasonally adjusted annual rate of $1,137.6 billion, 1.2 percent above the revised November estimate of $1,124.4 billion. Residential construction was 3.1 percent above the revised November estimate of $670.1 billion. Nonresidential construction was 1.7 percent below the revised November estimate of $454.4 billion.
The value of private construction in 2020 was $1,079.3 billion, 4.7 percent above the $1,030.7 billion spent in 2019. Residential construction in 2020 was $607.6 billion, 11.6 percent above the 2019 figure of $544.4 billion and nonresidential construction was $471.7 billion, 3.0 percent below the $486.3 billion in 2019.
In December, the estimated seasonally adjusted annual rate of public construction spending was $352.8 billion, 0.5 percent above the revised November estimate of $351.1 billion. Educational construction was 0.6 percent above the revised November estimate of $89.7 billion. Highway construction was 0.9 percent above the revised November estimate of $97.5 billion. The value of public construction in 2020 was $350.5 billion, 4.8 percent above the $334.4 billion spent in 2019. Educational construction in 2020 was $87.3 billion, 3.6 percent above the 2019 figure of $84.3 billion and highway construction was $98.8 billion, 1.8 percent above the $97.1 billion in 2019.
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.
