Sign in to comment!

Menu
Home

Economy

US construction spending up solid 0.9 percent in December with first annual gain since 2006

Spending on U.S. construction projects rose in December, ending a year in which construction activity increased for the first time in six years.

The Commerce Department says construction spending rose to a seasonally adjusted annual rate of $885 billion in December, up 0.9 percent from November, when spending increased a revised 0.1 percent.

For all of 2012, construction spending totaled $850.2 billion, a gain of 9.2 percent from 2011, when construction spending had fallen 3.3 percent. Even with the increase, construction activity is 27.2 percent below the all-time high of $1.17 trillion set in 2006 at the peak of the housing boom.

Construction has been posting a slow recovery, led by housing gains. In December, housing and nonresidential construction posted gains but spending on government projects fell.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.12% up 4.00%  
15 Y Fixed Graph 3.14% up 3.00%  
30 Y Fixed Jumbo Graph 4.24% up 4.17%  
5/1 ARM Graph 3.25% up 3.01%  
5/1 Jumbo ARM Graph 3.61% up 3.52%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.67% up 4.32%  
$50K HELOC Graph 4.04% up 3.99%  
$30K Loan Graph 5.00% up 4.99%  
$50K Loan Graph 4.36% -- 4.36%  
$75K Loan Graph 4.36% -- 4.36%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.70% dw 2.84%  
36 M Used Graph 3.19% dw 3.37%  
48 M New Graph 3.03% dw 3.16%  
48 M Used Graph 2.91% dw 3.00%  
60 M New Graph 3.07% dw 3.17%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% up 0.38%  
1 yr Graph 0.70% -- 0.70%  
5 yr Graph 1.50% dw 1.50%