December '15 Construction Spending Up 8.2 Percent Over December '14

February 2, 2016

Construction spending in 2015 reached its highest level in eight years, according to figures reported by the U.S. Census Bureau, ending at a seasonally adjusted annual rate of $1.116 trillion.

Private construction saw the largest gains with residential building up 12.6 percent to $416.8 billion, and non-residential reaching $389.3 billion, a 12.0 percent increase above the $347.7 billion in 2014.

Last year's public construction spending was $291.5 billion, 5.6 percent better than the %275.7 billion spent in 2014. 2015 Highway construction saw a 6.7 percent increase to $89.6 billion over the same reporting period in2014.

Data for the December 2015 construction report is available here.

Source: U.S. Census Bureau

Image: GOMACO

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