Construction spending rose in December
Construction spending during December 2021 was estimated at a seasonally adjusted annual rate of $1,639.9 billion, 0.2 percent above the revised November estimate of $1,636.5 billion.
The December figure is 9.0 percent above the December 2020 estimate of $1,504.2 billion.
The value of construction in 2021 was $1,589.0 billion, 8.2 percent above the $1,469.2 billion spent in 2020.
Spending on private construction was at a seasonally adjusted annual rate of $1,292.9 billion, 0.7 percent above the revised November estimate of $1,283.8 billion. Residential construction was 1.1 percent above November. Nonresidential construction was virtually unchanged from November.
The value of private construction in 2021 was $1,242.8 billion, 12.2 percent above the $1,107.9 billion spent in 2020. Residential construction in 2021 was $774.9 billion, 23.2 percent above the 2020 figure of $628.9 billion and nonresidential construction was $467.9 billion, 2.3 percent below the $479.0 billion in 2020.
In December, the estimated seasonally adjusted annual rate of public construction spending was $347.0 billion, 1.6 percent below the revised November estimate of $352.7 billion. Educational construction was 1.4 percent below November. Highway construction was 0.1 percent above November.
The value of public construction in 2021 was $346.2 billion, 4.2 percent below the $361.2 billion spent in 2020. Educational construction in 2021 was $82.4 billion, 7.6 percent below the 2020 figure of $89.1 billion and highway construction was $99.7 billion, 0.2 percent above the $99.5 billion in 2020.
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.
