U.S. Commerce Dept. Says Value of New Construction Finishes 2013 Up 4.8%

The U.S. Department of Commerce said construction spending during Dec. 2013 was estimated at a seasonally adjusted annual rate of $930.5 billion, 0.1% above the revised November estimate of $929.9 billion. The December figure is 5.3% above the December 2012 estimate of $883.6 billion. The value of construction in 2013 was $898.4 billion, 4.8% above the $857 billion spent in 2012.

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