Construction spending in the USA fell short of expectations in December

The USA Department of Commerce announced the construction expenditure data for the period of December 2021. Accordingly, construction expenditures in the USA increased by 0.2 percent month-on-month in December 2021, rising below market expectations.

CONSTRUCTION EXPENDITURES DROPPED 0.2 PERCENT

Construction spending in the United States was $1.64 trillion in December 2021, up 0.2 percent from the previous month.

Construction expenditures, which rose below market expectations, were expected to increase by 0.6 percent in this period, as in November last year.

In the said period, private sector construction projects increased by 0.7 percent, while public construction expenditures decreased by 1.6 percent. Construction expenditures increased by 9 percent on an annual basis.