The Census Bureau of the U.S. Department of Commerce released a report with the construction industry spending figures for January 2014.
The estimated spending during December 2013 at a seasonally adjusted annual rate (or SAAR) was at $931 billion—0.1% above the revised November estimate of $930 billion, and 5.3% above the December 2012 estimate of $884 billion.
The value of private construction (unadjusted) was estimated at $627 billion in 2013, 8.5% above the $578 billion spent in 2012.
Residential construction in 2013 was $331 billion, 18% above the 2012 figure of $280 billion, and non-residential construction was $297 billion, 0.4% below the $298 billion in 2012.
The provided statistics indicate that construction indexes are improving. The fact that the residential construction is increasing, shows a housing sector that is gaining momentum and it’s getting stronger.
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