USA: increase in estimated seasonally adjusted annual rate of construction spending in December 2014

The US Census Bureau of the Department of Commerce has released construction spending estimates for December 2014.

Construction spending for the month is estimated at a seasonally adjusted annual rate of US$982.1 billion. This is 0.4% higher than the revised November 2014 estimate and 2.2% higher than the December 2013 estimate.

Private construction spending estimates for December 2014 came in at US$698.6 billion, up 0.1% on the revised November estimate of US$698.2 billion. Residential construction spending also improved on the previous month, increasing from November’s estimate of US$348.4 billion to US$349.6 billion. However, nonresidential construction spending declined by 0.2%, falling to an estimated seasonally adjusted annual rate of US$349 billion.

In December 2014, the estimated seasonally adjusted annual rate of public construction spending totalled US$283.5 billion. This compares to November’s revised estimate of US$280.4 billion. Highway construction spending was 2.1% higher than November’s revised estimate but educational construction spending contracted by 0.6%.

Adapted from press release by Louise Fordham

Read the article online at: https://www.worldcement.com/the-americas/03022015/us-construction-spending-estimates-for-december-2014-released-263/