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December’s Construction Spending Up From Last Year Despite Monthly Slide; Rates Score Victory by Holding Flat

December’s Construction Spending Up From Last Year Despite Monthly Slide; Rates Score Victory by Holding Flat

The Census Bureau, still playing catch-up from the partial government shutdown , has released its monthly construction spending report for December 2018. Expenditures for all types of construction were at a seasonally adjusted annual rate of $1.293 trillion during the month, 0.6 percent less than the revised November estimate of $1.301 trillion. The December figure is 1.6 percent higher than the spending rate in December 2017. On a non-adjusted basis there was $97.552 billion spent during the month, down from $107.99 billion in November. Total spending for the year was 1.298 trillion compared to $1.246 trillion for all of 2017, an annual gain of 4.1 percent. The largest gains for the year were in construction to support the water supply , up 17.0 percent, transportation spending with a 15.1
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