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Construction Finishes 2020 on High Note

Mon, February 01, 2021 4:42 PM | Anonymous

Construction spending during December 2020 finished strongly with an seasonally adjusted annual rate at $1,490.4 billion, 1.0 percent above the revised November estimate of $1,475.6 billion. The December figure is 5.7 percent above the December 2019 estimate of $1,410.3 billion. The value of construction in 2020 was $1,429.7 billion, 4.7 percent above the $1,365.1 billion spent in 2019. While growth of any amount is a huge accomplishment (if not feat) during the turbulent pandemic and shutdowns seen in 2020, the construction numbers across market segments aren’t as robust as first glimpsed, with virtually all of the $64.6 billion dollars in overall growth was accomplished in only residential construction increases (i.e., $63.2B) for the year.  READ MORE

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