Construction spending during December 2022 was estimated at a seasonally adjusted annual rate of $1,809.8 billion, 0.4 percent below the upward revised November estimate of $1,817.3 billion. The December figure is 7.7 percent above the December 2021 estimate of $1,681.0 billion. The value of construction in 2022 was $1,792.9 billion, a strong 10.2 percent above the $1,626.4 billion spent in 2021, but well within inflationary impacts.
Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,427.1 billion, 0.4 percent below the revised November estimate of $1,432.9 billion. Residential construction was at a seasonally adjusted annual rate of $857.2 billion in December, 0.3 percent below the revised November estimate of $860.0 billion. Nonresidential construction was at a seasonally adjusted annual rate of $570.0 billion in December, 0.5 percent below the revised November estimate of $572.9 billion. The value of private construction in 2022 was $1,429.2 billion, 11.7 percent above the $1,279.5 billion spent in 2021. Residential construction in 2022 was $899.1 billion, 13.3 percent above the 2021 figure of $793.7 billion and nonresidential construction was $530.1 billion, 9.1 percent above the $485.8 billion in 2021.
Public Construction
In December, the estimated seasonally adjusted annual rate of public construction spending was $382.7 billion, 0.4 percent below the revised November estimate of $384.4 billion. Educational construction was at a seasonally adjusted annual rate of $84.2 billion, 0.3 percent below the revised November estimate of $84.4 billion. Highway construction was at a seasonally adjusted annual rate of $117.3 billion, 1.1 percent above the revised November estimate of $116.0 billion. The value of public construction in 2022 was $363.6 billion, 4.8 percent above the $347.0 billion spent in 2021. Educational construction in 2022 was $80.2 billion, 2.6 percent below the 2021 figure of $82.3 billion and highway construction was $108.9 billion, 8.6 percent above the $100.2 billion in 2021.
Kommentare