Construction Spending Falls 1.2 Percent, Driven By Drop in Residential Spending

In December, new construction spending fell 1.2 percent for the second consecutive month. The decline was driven by a 2.8 percent drop in private residential spending. Residential spending had fallen significantly over the past two months after surging upward in October by 11.8 percent. From a year prior, total construction spending was down 9.9 percent and residential spending was down 10.9 percent.

Private non-residential spending rose 0.2 percent, the first increase since March 2009. Still, non-residential spending was down 17.7 percent from a year prior. Public spending also fell over the month, declining 1.2 percent but was up 1.3 percent from a year prior.

m/m % change	Dec	Nov	Oct	Sep	Aug	Jul
Total	-1.2	-1.2	1.5	-1.6	-0.9	-1.2
Private Residential	-2.8	-1.4	11.8	-0.6	3.1	0.1
Private Non-Residential	0.2	-0.9	-3.6	-3.7	-2.9	-3.0
Public	-1.2	-1.2	-0.9	-0.1	-1.7	0.1

10.02.01 (Source: Census Bureau)