U.S. construction spending in December was a seasonally adjusted annual rate of $2,192.2 billion, up 0.5% from November and 4.3% above December 2023.
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Construction spending in 2024 was $2,154.4 billion, up 6.5% from 2023.
Spending on private construction in December was up 0.9% from November. Residential construction was up 1.5%, while nonresidential construction was up 0.1% from November.
Public construction spending was down 0.5% from November’s estimate. Educational construction was down 0.6%. Highway construction was up 0.7%.
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