Construction spending during December 2019 was estimated at a seasonally adjusted annual rate of $1,327.7 billion, 0.2% (± 0.8%) below the revised November estimate of $1,329.9 billion. The December figure is 5.0% (±1.3%) above the December 2018 estimate of $1,264.8 billion.
The value of construction in 2019 was $1,303.5 billion, 0.3% (±1.0%) 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% (±0.5%) below the revised November estimate of $992.2 billion. Residential construction was at a
seasonally adjusted annual rate of $540.7 billion in December, 1.4% (±1.3%) above the
revised November estimate of $533.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $450.5 billion in December, 1.8% (±0.5%) below the revised November
estimate of $458.9 billion.
The value of private construction in 2019 was $974.7 billion, 2.5% (±1.0%) below the $1,000.2 billion spent in 2018. Residential construction in 2019 was $514.3 billion, 4.7% (±2.1%) below the 2018 figure of $539.6 billion and nonresidential construction was $460.4 billion, virtually unchanged from (±1.0%)* the $460.5 billion in 2018.
Single-family residential construction spending was up 5.2% on the year.
