December 2011 Construction Advances 1.5 Percent over November
Nonresidential construction climbs 3.3 percent for month.
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during December 2011 was estimated at a seasonally adjusted annual rate of $816.4 billion, 1.5 percent (±1.4%) above the revised November estimate
of $804.0 billion. The December figure is 4.3 percent (±1.9%) above the December 2010 estimate of $782.9 billion.
The value of construction in 2011 was $787.4 billion, 2.0 percent (±1.1%) below the $803.6 billion spent in 2010.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $529.7 billion, 2.1 percent (±1.1%) above the revised November estimate of $518.8 billion.
Residential construction was at a seasonally adjusted annual rate of $241.2 billion
in December, 0.8 percent (±1.3%)* above the revised November estimate of $239.4 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $288.5 billion in December, 3.3 percent (±1.1%) above the revised November estimate of
$279.4 billion.
The value of private construction in 2011 was $504.1 billion, 0.7 percent (±1.4%)* above the $500.6 billion spent in 2010. Residential construction in 2011 was $236.2 billion, 1.1 percent (±2.1%)* below the 2010 figure of $238.8 billion and nonresidential construction was $268.0 billion, 2.4 percent (±1.4%) above the $261.8 billion in 2010.
PUBLIC CONSTRUCTION
In December, the estimated seasonally adjusted annual rate of public construction spending was $286.6 billion, 0.5 percent (±2.1%)* above the revised November estimate of $285.3 billion.
Educational construction was at a seasonally adjusted annual rate of $70.6 billion, 0.6 percent (±3.4%)* below the revised November estimate of $71.1 billion.
Highway construction was at a seasonally adjusted annual rate of $84.5 billion, 1.8 percent (±5.0%)* above the revised November estimate of $82.9 billion.
The value of public construction in 2011 was $283.3 billion, 6.5 percent (±1.4%) below the $303.0 billion spent in 2010. Educational construction in 2011 was $70.9 billion, 5.3 percent (±3.2%) below the 2010 figure of $74.9 billion and highway construction was $78.9 billion, 4.5 percent (±3.2%) below the $82.5 billion in 2010.
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