Construction Spending Down 12.4% in 2009

By MDM Staff

February 5, 2010

More about: Building Materials/Construction, Economy

Private construction spending fell in 2009, but public construction investment was up.

Construction spending in December 2009 was estimated at a seasonally adjusted annual rate of $902.5 billion, 1.2% below the revised November estimate. The December figure is 9.9% below December 2008.

We Deliver Distribution News to Your Inbox
Sign up below to receive MDM Update, your free weekly distribution news update by email.

The value of construction in 2009 was $939.1 billion, 12.4% below the $1,072.1 billion spent in 2008.

Spending on private construction was at a seasonally adjusted annual rate of $593 billion, 1.2% below the revised November estimate of $599.9 billion. Residential construction was at a seasonally adjusted annual rate of $260.4 billion in December, 2.8% below November.

Nonresidential construction was at a seasonally adjusted annual rate of $332.5 billion in December, 0.2% above the revised November estimate of $331.8 billion.

The value of private construction in 2009 was $621.8 billion, 18.8% below the $766.2 billion spent in 2008. Residential construction in 2009 was $252.2 billion, 28% below the 2008 figure of $350.1 billion and nonresidential construction was $369.6 billion, 11.2% below the $416.1 billion in 2008.

In December, the estimated seasonally adjusted annual rate of public construction spending was $309.6 billion, 1.2% below the revised November estimate of $313.3 billion. Educational construction was at a seasonally adjusted annual rate of $80.3 billion, 0.4% below November. Highway construction was at a seasonally adjusted annual rate of $83.7 billion, 2.3% below November.

The value of public construction in 2009 was $317.3 billion, 3.7% above the $306 billion spent in 2008. Educational construction in 2009 was $86.3 billion, 0.9% above 2008, and highway construction was $84.6 billion, 3.7% above 2008.

For more details, download the pdf below.

Download PDF

Market Data for Dozens
of Product Groups

Not a subscriber? Order market analyses by pay-per-view. Also available in the MDM Databank: housing starts, industrial production, wholesale trade revenues, Producer Price Index and much more, posted monthly!

Benchmark Your
Work Force Plans

Now Available: If you missed the recent MDM Webcast on Managing Talent for the Recovery, order the transcript today for just $39.95. Go to the MDM Store.