Construction spending during December 2013 was estimated at a seasonally adjusted rate of $930.5 billion, .1 percent above November’s estimate of $929.9 billion, according to the U.S. Census Bureau of the Department of Commerce.
Spending in December was also well above the December 2012 estimate of $883.6 billion by 4.8 percent. This brings the final value of construction total for 2013 to $898.4 billion, which is 4.8 percent above the $857.0 billion spent in 2012.
The largest increase in construction spending throughout 2013 was in the private sector. Residential construction alone increased 18 percent from 2012 to $330.7 billion.
Spending by local, state and the federal government decreased just 2.8 percent below the $270.0 billion spent in 2012, with educational construction seeing the largest loss.
For more detailed information on construction spending data and statistics please visit the U.S. Census Bureau. January 2014 data will be released on March 3.