2018 Construction Spending Update

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The U.S. Census Bureau announced construction spending for 2018 was at a seasonally adjusted annual rate of $1,292.7 billion based on spending in December. The value of construction during 2018 increased by 4.1 percent compared to the same period in 2017.

While private construction spending was $991.2 billion based on spending in December, public construction spending was $301.5 billion. In 2018, both Private and Public construction spending were up with Private up 3.4 percent and Public construction, almost double that, increasing 6.6% from spending in 2017.

There were several contributors to public construction spending growth in 2018:

• Transportation construction was $34.9 billion, which was up 15 percent above the 2017 figures
• Educational construction was $73.6 billion, up 3.8 percent
• Highway construction was $94.6 billion, 4.2 percent above 2017

More information may be found at: https://www.census.gov/construction/c30/pdf/release.pdf