Rise for US construction spending

US construction spending increased 4.1% in 2018 from 2017, according to an analysis of government data by the Associated General Contractors of America.

Public construction saw a growth in 2018 of 6.6%. The largest public category, highway and street construction, increased 4.2%.

Educational construction, the second largest segment, increased 3.8% for the year.

For 2018 residential spending increased 3.3% from 2017, with gains of 5.2% for single-family and 0.7% for multifamily construction.

Private non-residential spending was 3.5% higher than in 2017. Among the largest private non-residential segments, power construction gained 3.9% for the full year.

Commercial construction added 2%, manufacturing construction decreased 1.7% and office construction increased 8.4%.

The data also revealed that construction spending dropped by 0.6% in December 2018 compared to November 2018.