US construction spending rises 0.9% in December

Figure up 13.9% on annual basis, says Commerce Department

By Ovunc Kutlu

ISTANBUL (AA) - US construction spending rose 0.9% to $2,096 billion in December 2023, Commerce Department figures showed Thursday.

Construction spending, one of the major indicators of well-being in the construction sector, was expected to show a monthly increase of 0.5%, according to estimates.

The figure for November was revised up to a gain of 0.9%, from an increase of 0.4%, to stand at $2,078.3 billion.

Annually, the reading in December 2023 was 13.9% above the figure from the same month in 2022 when it stood at $1,840.9 billion, said the agency.

The value of construction in 2023 was $1,978.7 billion, 7% above the $1,848.7 billion spent in 2022, said the agency.

Kaynak:

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