Construction spending during December 2022 was estimated at a seasonally adjusted annual rate of $1,809.8 billion, 0.4 percent below the upward revised November estimate of $1,817.3 billion. The December figure is 7.7 percent above the December 2021 estimate of $1,681.0 billion. The value of construction in 2022 was $1,792.9 billion, a strong 10.2 percent above the $1,626.4 billion spent in 2021, but well within inflationary impacts.

Private Construction
Spending on private construction was at a seasonally adjusted annual rate of $1,427.1 billion, 0.4 percent below the revised November estimate of $1,432.9 billion. Residential construction was at a seasonally adjusted annual rate of $857.2 billion in December, 0.3 percent below the revised November estimate of $860.0 billion. Nonresidential construction was at a seasonally adjusted annual rate of $570.0 billion in December, 0.5 percent below the revised November estimate of $572.9 billion.   READ MORE.....