US: Construction spending declines 0.6% in December

"Construction spending during December 2018 was estimated at a seasonally adjusted annual rate of $1,292.7 billion, 0.6 percent below the revised November estimate of $1,300.6 billion," the U.S. Census Bureau reported on Monday.

Key takeaways from the press release

• The value of construction in 2018 was $1,297.7 billion, 4.1 percent above the $1,246.0 billion spent in 2017. 
• Spending on private construction was at a seasonally adjusted annual rate of $991.2 billion, 0.6 percent below the revised November estimate of $997.1 billion.
•  Residential construction was at a seasonally adjusted annual rate of $536.7 billion in December, 1.4 percent below the revised November estimate of $544.2 billion.