DECEMBER 2013 CONSTRUCTION AT $930.5 BILLION ANNUAL RATE
The U.S. Census Bureau of the Department of Commerce announced today that construction spending during December 2013 was estimated at a seasonally adjusted annual rate of $930.5 billion, 0.1 percent (± 1.2 %) * above the revised November estimate of $929.9 billion. The December figure is 5.3 percent (± 1.5 %) above the December 2012 estimate of $883.6 billion. The value of construction in 2013 was $898.4 billion, 4.8 percent (± 1.3 %) above the $857.0 billion spent in 2012 .
PRIVATE CONSTRUCTION
Spending on private construction was at a seasonally adjusted annual rate of $663.9 billion, 1.0 percent (± 1.0 %) * above the revised November estimate of $657.1 billion. Residential construction was at a seasonally adjusted annual rate of $352.6 billion in December , 2.6 percent (± 1.3 %) above the revised November estimate of $343.8 billion. Nonresidential construction was at a seasonally adjusted annual rate of $311.3 billion in December , 0.7 percent (± 1.0 %) * below the revised November estimate of $313.4 billion. The value of private construction in 2013 was $627.2 billion, 8.5 percent ( ± 1.5 %) above the $577.9 billion s pent in 2012 . Residential construction in 2013 was $330.7 billion, 18.0 percent ( ± 2.1 %) above the 2012 figure of $280.3 billion and nonresidential construction was $296.5 billion, 0.4 percent ( ± 1.5 %) * below the $297.7 billion in 2012 .
PUBLIC CONSTRUCTION
In December , the estimated seasonally adjusted annual rate of public construction spending was $266.6 billion, 2.3 percent (± 1.8 %) below the revised November estimate of $27 2.8 billion. Educational construction was at a seasonally adjusted annual rate of $58.2 billion, 7.2 percent (± 3.1 %) below the revised November estimate of $62.7 billion. Highway construction was at a seasonally adjusted annual rate of $84.0 billion, 1.8 percent (± 3.9 %) * above the revised November estimate of $82.5 billion. The value of public construction in 2013 was $271.2 billion, 2.8 percent ( ± 1.8 %) below the $279.0 billion spent in 2012 . Educational construction in 2013 was $62.4 billion, 8.4 percent ( ± 3.1 %) below the 2012 figure of $68.2 billion and highway construction was $81.1 billion, 1.0 percent ( ± 4.9 %) * above the $80.4 billion in 2012 .