Construction spending in US falls to 10-year low

Wednesday, 02 February 2011 02:53:27 (GMT+2)

According to figures released Tuesday by the US Census Bureau of the Department of Commerce, construction spending in December 2010 totaled about $787.9 billion, 2.5 percent (±1.3 percent) below the November total of $807.8 billion. Compared to a year ago, spending fell 6.4 percent (±1.6 percent) from the December 2009 total of $841.8 billion. The total value of construction in 2010 was $814.2 billion, a 10.3 percent (±1.0 percent) decrease from the $907.8 billion spent in 2009.
Spending on private construction was $486.9 billion in December, 2.2 percent below the November estimate of $498 billion. Within the private construction sector, residential construction fell 4.1 percent in December, while non-residential construction spending declined 0.5 from November to December. In 2010, the value of private construction was $507.3 billion, 14.3 percent below the $592.3 billion spent in 2009.
Spending on private construction was $301 billion in December, 2.8 percent (±1.8 percent) below the revised November estimate of $309.8 billion. In 2010, the value of public construction totaled $306.8 billion, a 2.7 percent (±1.4 percent) decline from the $315.5 billion spent in 2009.
Tags :USA , North America, construction ( souced:steelorbis)