Construction Spending dips 2.5 percent in December 2010
For year, 2010 construction spending lags 2009 by 10 percent.
Year over year, every spending catagory in 2010 trailed 2009 levels.
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during December 2010 was estimated at a seasonally adjusted annual rate of $787.9 billion, 2.5 percent (±1.3%) below the revised November estimate of $807.8 billion.
The December figure is 6.4 percent (±1.6%) below the December 2009 estimate of $841.8 billion.
The value of construction in 2010 was $814.2 billion, 10.3 percent (±1.0%) below the $907.8 billion spent in 2009.
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $486.9 billion, 2.2 percent (±1.1%) below the revised November estimate of $498.0 billion.
Residential construction was at a seasonally adjusted annual rate of $226.4 billion in December, 4.1 percent (±1.3%) below the revised November estimate of $236.1 billion.
Nonresidential construction was at a seasonally adjusted annual rate of $260.5 billion in December, 0.5 percent (±1.1%)* below the revised November estimate of $261.9 billion.
The value of private construction in 2010 was $507.3 billion, 14.3 percent (±1.0%) below the $592.3 billion spent in 2009.
Residential construction in 2010 was $241.4 billion, 1.7 percent (±2.1%)* below the 2009 figure of $245.6 billion and nonresidential construction was $265.9 billion, 23.3 percent (±1.0%) below the $346.7 billion in 2009.
PUBLIC CONSTRUCTION
In December, the estimated seasonally adjusted annual rate of public construction spending was $301.0 billion, 2.8 percent (±1.8%) below the revised November estimate of $309.8 billion.
Educational construction was at a seasonally adjusted annual rate of $68.2 billion, 3.7 percent (±2.9%) below the revised November estimate of $70.8 billion.
Highway construction was at a seasonally adjusted annual rate of $84.9 billion, 1.6 percent (±4.2%)* below the revised November estimate of $86.3 billion.
The value of public construction in 2010 was $306.8 billion, 2.7 percent (±1.4%) below the $315.5 billion spent in 2009.
Educational construction in 2010 was $74.4 billion, 13.6 percent (±2.7%) below the 2009
