Construction Spending Reaches 8-Year High in 2015

U.S. construction spending has come a long way since the financial crisis that hit America in 2008, according to a report the U.S. Census Bureau of the Department of Commerce released on Monday.

Construction spending rebounded slightly in December, helping push total spending for 2015 to the highest level in eight years. The report estimated construction spending during December 2015 at a seasonally adjusted annual rate of $1,116.6 billion, just 0.1% above the revised November estimate.

Watchdog Construction
Total construction put in place in December 2015 is estimated to be worth 8.2% more than that spent in December 2014.

The value of all construction put in place in 2015 was $1,097.3 billion, 10.5% above the $993.4 billion spent in 2014.

 

Related: Construction Industry Remains Optimistic

The full report can be found on the Census website.

Stephen Fean
Stephen Fean is the Vice President of Business Development at Watchdog Real Estate Project Managers, a real-estate consulting firm that provides owner’s representation and project management services. More about Watchdog Real Estate Project Managers as well as additional blog posts can be found here.
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