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For the Year 2018, Construction Spending Finishes 4.1 Percent Above 2017 Levels

Mon, March 04, 2019 3:40 PM | CIRT News (Administrator)

The U.S. Census Bureau announced the value put in place of construction for the year 2018 was $1,297.7 billion, 4.1 percent above the $1,246.0 billion spent in 2017.  In December construction spending was estimated at a seasonally adjusted annual rate of $1,292.7 billion, 0.6 percent below the revised November estimate of $1,300.6 billion. However, the December figure is 1.6 percent above the December 2017 estimate of $1,272.6 billion.  

PRIVATE CONSTRUCTION:
Spending on private construction was at a seasonally adjusted annual rate of $991.2 billion, 0.6 percent below the revised November estimate of $997.1 billion. Residential construction was at a seasonally adjusted annual rate of $536.7 billion in December, 1.4 percent below the revised November estimate of $544.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $454.5 billion in December, 0.4 percent above the revised November estimate of $452.9 billion. The value of private construction in 2018 was $995.6 billion, 3.4 percent above the $962.8 billion spent in 2017. Residential construction in 2018 was $542.3 billion, 3.3 percent above the 2017 figure of $524.9 billion and nonresidential construction was $453.4 billion, 3.5 percent above the $437.8 billion in 2017.   READ MORE


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