Steel Products
February 6, 2018
Construction Spending Shows 1.4% Growth in December
Written by Peter Wright
In December, total construction spending expanded by 1.4 percent year over year. Viewed in the longer term, however, the growth rate is slowing. The growth of total construction on a rolling 12-month basis year over year slowed every month in 2017. On a rolling three-months basis, growth improved in October and December. On this three-month basis, growth in August and September was the lowest since November 2011.
Construction expenditures data is developed by the Department of Commerce and is referred to as construction put in place (CPIP). Since construction is extremely seasonal, the growth or contraction we report in this analysis has had seasonality removed by providing only year-over-year comparisons.
