December 2017 Construction Spending
The U.S. Census Bureau announced construction spending increased for December 2017 at a seasonally adjusted annual rate of $1,253.3 billion, 0.7 percent above the revised November estimate. It was also up 2.6 percent from December 2016, and construction in 2017 was $1,230.6 billion, up 3.8 percent from $1,185.7 billion in 2016.
While private construction spending was $963.2 billion, 0.8 percent above the revised November estimate of $955.9 billion; public construction spending was $290.0 billion, which is up 0.3 percent above last month’s revised estimates of $289.1 billion.
Educational construction spending is one of the main contributors to the public construction increase, which was at the adjusted annual rate of $75.5 billion, 1.6 percent above the revised November estimate. Highway construction which was also up to $88.3 billion, a 0.3 percent increase from revised November estimate.
In 2017, the value of public construction was $279.8, a 2.5 percent decrease from 2016. However educational construction in 2017 was $ 71.2 billion, 2.5 percent above the 2016 figure of $ 69.5 billion.
More information may be found at: https://www.census.gov/construction/c30/pdf/release.pdf