February 3, 2025
Construction spending (the green bars above) rose 0.5% in December after having risen 0.2% in November and 1.6% in October. After being essentially unchanged through most of last year, construction spending appears to once again be climbing led by gains in the residential spending category. In the past 12 months it has risen 4.3%.
Private construction spending (excluding the government sector) rose 0.9% in December after climbing 0.3% in November and 1.9% in October. In the past year private construction has risen 4.3%.
Within the private construction spending category, residential spending jumped 1.5% in December after climbing 0.3% in November and 3.4% in October.. In the past 12 months residential construction spending has risen 6.0%.
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Nonresidential construction rose 0.1% in both November and December after having been unchanged in October . In the past 12 months nonresidential construction has risen 2.3%.
Public sector construction fell 0.5% in December after having declined 0.1% in November. In the past year such spending has risen 4.3%.
.Stephen Slifer
NumberNomics
Charleston, SC
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