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Friday, February 1, 2013

Better Construction Numbers in December

Multifamily Took the Lead in December
· Construction spending improved 0.9 percent, in December
while the drop in November was revised upward to a
0.1 percent gain. December’s outlays were motorized by
residential construction, of which multifamily construction
surged 6.2 percent while single-family construction increased
0.8 percent. This performance closes the best year for the U.S.
construction industry since 2010.

Public Sector a Drag for Construction in 2012
· The public sector continued to be a drag on construction activity
with total public construction falling 1.4 percent in December,
while dropping by 5.6 percent when compared to December of
2011. This behavior will probably continue in 2013 as U.S.
government expenditures remain constrained at federal and
local levels.

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