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Total Construction Spending Essentially Unchanged in 2019
Monday, February 3, 2020
Total construction spending ended 2019 down slightly from
the prior year. The U.S. Census Bureau said the total value of construction, both
public and private, put in place during the year was $1.304 trillion compared
to $1.307 trillion in 2018, an 0.3 percent decrease. Residential spending was down 4.6 percent from the prior
year with expenditures of $520.9 billion. Non-residential spending gained 2.8
percent but annual gains in the various non-residential categories were modest.
Only one type of construction rose by double digits; water supply projects were
up 12.6 percent. This is a small dollar category however; total expenditures for
the year were only $9.30 billion.
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