The U.S. Census Bureau announced the “put in place” spending during December 2023 was estimated at a “seasonally adjusted” annual rate of $2,096.0 billion, 0.9 percent above the upward revised November estimate of $2,078.3 billion. The December figure is a whopping 13.9 percent above the December 2022 estimate of $1,840.9 billion; some of which can be accounted for by the impact of inflation on the dollar amounts recorded in 2023.

By comparison, the overall value of construction in 2023 was $1,978.7 billion (also impacted by inflation), or a year-over-year 7.0 percent above the $1,848.7 billion spent in 2022.  READ MORE..