U.S. Construction Spending Dips 0.6 Percent in December

Industry News / Industry Statistics

March 5, 2019

U.S. Construction Spending Dips 0.6 Percent in December

Construction spending dropped 0.6 percent in December, following on a 0.8 percent drop in November. For 2018, however, construction spending reach a record $1.3 trillion, up 4.1 percent from 2017.

Residential construction continued to slow, falling by 1.4 percent in December. Public construction spending also fell; federal spending dropped 2.2 percent, while state and local construction spending declined 0.5 percent.

Nonresidential activity rose 0.4 percent, propelled by a 1 percent gain in motel and hotel construction. Office construction was flat and spending in the commercial sector fell by 1 percent.

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