Construction Spending Annual Rates for December 2014

February 2, 2015

Eli Y. Robbins Construction Law


According to the U.S. Census Bureau of the Department of Commerce, total construction spending for December 2014 was estimated at a seasonally adjusted annual rate of $982.1 billion.  This rate is up 0.4 percent from the revised November estimate of $978.6 billion.  When compared to the previous year’s numbers, the December rate is up 2.2 percent from that of the December 2013 rate, which was estimated at $961.2 billion.  Construction as a whole was valued at $961.4 billion in 2014, which is a 5.6 percent increase compared to the $910.8 billion spent in 2013.

Private construction spending was estimated at a seasonally adjusted annual rate of $698.6 billion, which is up 0.1 percent from November’s revised estimate of $698.2 billion.  Residential construction spending for December was at a seasonally adjusted annual rate of $349.6 billion, up 0.3 percent from the previous month’s revised estimate of $348.4 billion.  Nonresidential construction spending for December was estimated at $349.0 billion, down 0.2 percent from November’s revised estimate of $349.8 billion.  Private construction was valued at a total of $687.0 billion in 2014, which is 7.2 percent above the 2013 total value of $641.1 billion.

Public construction spending was estimated at a seasonally adjusted annual rate of $283.5 billion, up 1.1 percent from November’s revised estimate of $280.4 billion.  Educational construction spending for December was at an adjusted rate of $61.5 billion, down 0.6 percent from the revised November estimate of $61.8 billion.  Highway construction spending was estimated at an adjusted rate of $90.3 billion for December, increasing by 2.1 percent over November’s revised estimate of $88.4 billion.  Public construction was valued at a total of $274.4 billion in 2014, which is a 1.8 percent increase from the 2013 total value of $269.6 billion.

For more information, read the complete U.S. Census Bureau of the Department of Commerce Press Release by clicking here.