The US Census Bureau of the Department of Commerce announced Monday that construction spending during December 2015 was estimated at a seasonally adjusted annual rate of US$1,116.6 billion, 0.1 per cent above the revised November estimate of US$1,116.0 billion.
The December figure is 8.2 per cent above the December 2014 estimate of US$1,031.6 billion.
The value of construction in 2015 was US$1,097.3 bil- lion, 10.5 per cent above the US$993.4 billion spent in 2014.
Spending on private construction was at a seasonally adjusted annual rate of US$824.0 billion, 0.6 per cent
below the revised November estimate of $828.8 billion. In December, the estimated seasonally adjusted annual rate of public construction spending was US$292.5 billion, 1.9 per cent above the revised November estimate of US$287.1 billion.
Private residential spending has been increasing, but is 37 per cent below the bubble peak.
Non-residential spending is only 5 per cent below the peak in January 2008 (nominal dollars).
Public construction spending is now 10 per cent below the peak in March 2009 and about 11 per cent above the post-recession low.