Construction spending declined in December
Construction spending during December 2019 was estimated at a seasonally adjusted annual rate of $1,327.7 billion, 0.2 percent below the revised November estimate of $1,329.9 billion.
The December figure is 5.0 percent above the December 2018 estimate of $1,264.8 billion.
The value of construction in 2019 was $1,303.5 billion, 0.3 percent below the $1,307.2 billion spent in 2018.
Spending on private construction was at a seasonally adjusted annual rate of $991.2 billion, 0.1 percent below the revised November estimate of $992.2 billion. Residential construction was 1.4 percent above Novembe. Nonresidential construction was 1.8 percent below November.
The value of private construction in 2019 was $974.7 billion, 2.5 percent below the $1,000.2 billion spent in 2018. Residential construction in 2019 was $514.3 billion, 4.7 percent below the 2018 figure of $539.6 billion and nonresidential construction was $460.4 billion, virtually unchanged from the $460.5 billion in 2018.
In December, the estimated seasonally adjusted annual rate of public construction spending was $336.4 billion, 0.4 percent below Novembe. Educational construction was 2.1 percent below November. Highway construction was 3.1 percent above November estimate.
The value of public construction in 2019 was $328.8 billion, 7.1 percent above the $307.1 billion spent in 2018. Educational construction in 2019 was $79.0 billion, 3.4 percent above the 2018 figure of $76.4 billion and highway construction was $98.8 billion, 8.8 percent above the $90.8 billion in 2018.
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.
