2024 Construction Spending Annual Review

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The U.S. Census Bureau announced construction spending for December 2024 was at a seasonally adjusted annual rate of $2,192 billion, 4.3% above the previous year.

While private construction spending in December was $1,688 billion, 0.8% above the  November estimate of $1,674 billion, public construction spending was $504 billion, 0.4 % below the November estimate of $506 billion. A key contributor to public construction was highway construction at $143 billion, 0.7 % above the November estimate of $142 billion.

Compared to the previous year, the value of public construction in 2024 was $504 billion, 4.3% above 2023 spending.

Read More:

https://www.census.gov/construction/c30/pdf/release.pdf