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December saw Small Gains for Residential Construction Spending

December expenditures for construction posted a small gain
in December, rising a scant 0.4 percent over November figures.  The Census Bureau said today that spending on
both public and private construction was at a seasonally adjusted annual rate
of $982.1 billion compared to $978.6 billion the previous month.  The figure represented a 2.2 percent gain
from December 2013.

Public and private residential spending was at a rate of
$355.01 billion, also a 0.3 percent month-over-month increase but down 3.9
percent from the previous year.  Residential
spending, however, was one of the few bright spots for the month with most
other categories of spending, both public and private, posting slightly
negative numbers.

 

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