The 2020 Mid-Year Economic Update_long

Residential Construction Spending Grows 18% in 2013

December 2013 construction spending was up 5.3% from December 2012.

December 2013 construction spending was estimated at $930.5 billion, a slight increase from the revised November estimate, according to the U.S. Census Bureau. The December 2013 figure is a 5.3 percent increase from the December 2012 estimate.

For December 2013, private construction was $663.9 billion, a 1 percent increase from the revised November estimate. Residential construction was $352.6 billion, a 2.6 percent increase from the revised November estimate. Nonresidential construction was $311.3 billion, a slight increase from the revised November estimate.

For the full year of 2013, private construction was $627.2 billion, an 8.5 percent increase from 2012. Residential construction was $330.7 billion, an 18 percent increase from 2012. Nonresidential construction was $296.5 billion, a slight increase from 2012.

For December 2013, public construction was $266.6 billion, a 2.3 percent decrease from the revised November estimate. Educational construction was $58.2 billion, a 7.2 percent decrease from the revised November estimate. Highway construction was $84 billion, a 1.8 percent increase from the revised November estimate.

For the full year of 2013, public construction was $271.2 billion, a 2.8 percent decrease from 2012. Educational construction was $62.4 billion, an 8.4 percent decrease from 2012. Highway construction was $81.1 billion, a 1 percent increase from 2012.

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