Value of Construction Put in Place at a Glance: December 2015 - 1,116.6 Billion Annual Rate: December, 2015 increases 8.2% over December, 2014

The U.S. Census Bureau of the Department of Commerce announced today that construction spending during December 2015 was estimated at a seasonally adjusted annual rate of $1,116.6 billion, 0.1 percent (±1.2%)* above the revised November estimate of $1,116.0 billion. The December figure is 8.2 percent (±1.8%) above the December 2014 estimate of $1,031.6 billion.

The value of construction in 2015 was $1,097.3 billion, 10.5 percent (±1.2%) above the $993.4 billion spent in 2014.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $824.0 billion, 0.6 percent (±0.8%)* below the revised November estimate of $828.8 billion. Residential construction was at a seasonally adjusted annual rate of $429.6 billion in December, 0.9 percent (±1.3%)* above the revised November estimate of $425.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $394.4 billion in December, 2.1 percent (±0.8%) below the revised November estimate of $403.0 billion.

The value of private construction in 2015 was $806.1 billion, 12.3 percent (±1.5%) above the $717.7 billion spent in 2014.  Residential construction in 2015 was $416.8 billion, 12.6 percent (±2.1%) above the 2014 figure of $370.0 billion and nonresidential construction was $389.3 billion, 12.0 percent (±1.5%) above the $347.7 billion in 2014.

PUBLIC CONSTRUCTION

In December, the estimated seasonally adjusted annual rate of public construction spending was $292.5 billion, 1.9 percent (±2.0%)* above the revised November estimate of $287.1 billion. Educational construction was at a seasonally adjusted annual rate of $69.4 billion, 0.5 percent (±3.9%)* below the revised November estimate of $69.8 billion. Highway construction was at a seasonally adjusted annual rate of $95.4 billion, 9.4 percent (±4.4%) above the revised November estimate of $87.2 billion.

Value of Construction Put in Place at a Glance: December 2015

	Seasonally Adjusted Annual Rate				Not Seasonally Adjusted
	(millions of dollars)				(millions of dollars)
Total	1,116,570	XLS (11k)	PDF (31k)		85,903	XLS (11k)	PDF (31k)
Private	824,026	XLS (15k)	PDF (36k)		64,931	XLS (15k)	PDF (36k)
Residential	429,606	XLS (8k)	PDF (16k)		31,624	XLS (8k)	PDF (16k)
Nonresidential	394,420	XLS (8k)	PDF (18k)		33,308	XLS (8k)	PDF (18k)
Public	292,545	XLS (11k)	PDF (24k)		20,971	XLS (11k)	PDF (24k)
State and Local	270,216	XLS (11k)	PDF (31k)		19,080	XLS (11k)	PDF (31k)
Federal	22,329	XLS (8k)	PDF (18k)		1,891	XLS (8k)	PDF (18k)

Source: US Census Bureau