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US reports 2011 fall in construction spend
The value of construction in the US in 2011 was US$787.4bn (£599bn), 2.0% below the US$803.6bn spent in 2010.
Private construction rose in 2011 was 0.7% higher than 2010 but there was a 6.5% fall in public construction.
Howver overall construction spending during December 2011 in the US rose 1.5% from the November estimate. The US Census Bureau of the Department of Commerce said that construction spending in December was estimated at a seasonally adjusted annual rate of US$816.4bn, 1.5% (±1.4%) above the revised November estimate of US$804.0bn. The December figure is 4.3% (±1.9%) above the December 2010 estimate of US$782.9bn.
Spending on private construction was at a seasonally adjusted annual rate of US$529.7bn, 2.1% above the revised November estimate of US$518.8bn . Residential construction was at a seasonally adjusted annual rate of US$241.2bn in December, 0.8% above the revised November estimate of US$239.4bn. The figure for non-residential construction was US$288.5bn in December, 3.3% (± 1.1%) above the revised November estimate of US$279.4bn.
The value of private construction in 2011 was US$504.1bn, 0.7% above the US$ 500.6bn spent in 2010.
Residential construction in 2011 was US$236.2bn, 1.1% below the 2010 figure of US$238.8bn and non-residential construction was US$268.0bn, 2.4% above the US$ 261.8bn in 2010.
In December, the estimated seasonally adjusted annual rate of public construction spending was US$286.6bn, 0.5% above the revised November estimate of US$285.3bn. The figure for educational construction was US$70.6bn, which was 0.6% below the revised November estimate of US$71.1bn. Highway construction was at a seasonally adjusted annual rate of US$ 84.5bn, 1.8% above the revised November estimate of US$82.9bn.
The value of public construction in 2011 was US$283.3bn, 6.5% below the US$ 303.0bn spent in 2010. Educational construction in 2011 was US$70.9bn, 5.3% (±3.2%) below the 2010 figure of US$74.9bn and highway construction was US$ 78.9bn, 4.5% (±3.2%) below the US$ 82.5bn in 2010.
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This article was published on 02/02/2012 (last updated on 02/02/2012).