The value of construction spending put in place in 2006 was $1, 198.0 billion, 4.8% above the $1,143.7 billion spent in 2005.
The value of private construction in 2006 was $928.7 billion, 3.3% above the $899.0 billion spent in 2005. Residential construction in 2006 was down 1.9%* from 2005 and nonresidential construction was $298.4 billion, 16.2% above the $256.7 billion in 2005.
The value of public construction in 2006 was $269.3 billion, 10.1% above the $244.7 billion spent in 2005. Educational construction in 2006 was 6.4% above the 2005 figure, and highway construction was 14.8% above 2005’s value.
In December 2006, the value of construction was 0.4%* below the revised November estimate. The December figure is 1.4%* below the December 2005 estimate.
Private construction spending was at a seasonally adjusted annual rate of $896.8 billion in December, 0.8%* below November. Residential construction was 1.6% below November, and nonresidential was 0.9%* above the November figure.
The value of public construction in December was 0.6%* above the revised November estimate. Educational construction was 1.8%* above November, and highway construction was 1.1%* below November.
*The U.S. Census Bureau does not have sufficient statistical evidence to conclude that the actual change is different from zero. This means the change can be considered relatively flat for these categories.
More details, for 2006 and December, here.
Economic indicators at MDM’s Databank.
