“Construction spending during December 2018 was estimated at a seasonally adjusted annual rate of $1,292.7 billion, 0.6 percent below the revised November estimate of $1,300.6 billion,” the U.S. Census Bureau reported on Monday.
Key takeaways from the press release
- 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 the revised November estimate of $997.1 billion.
- Residential construction was at a seasonally adjusted annual rate of $536.7 billion in December, 1.4 percent below the revised November estimate of $544.2 billion.
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