Wood News

U.S. construction spending in 2013 increases 5% over 2012; residential construction spending up 18% year over year.



PORTLAND, OR , Feb. 4, 2014 (RISI) - 

U.S. construction spending in December was estimated at a seasonally adjusted annual rate (SAAR) of $930.5 billion, 0.1% above the revised November estimate of $929.9 billion, according to the U.S. Census Bureau. The December figure is 5.3% above the December 2012 estimate of $883.6 billion. The value of construction in 2013 was $898.4 billion, 4.8% above the $857.0 billion spent in 2012.

Spending on private construction in the U.S. was at a SAAR of $663.9 billion, an increase of 1.0% over the revised November estimate of $657.1 billion. The value of private construction in 2013 was $627.2 billion, 8.5% above the $577.9 billion spent in 2012.

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