Market

U.S. construction spending falls in December

Outlays for U.S. construction projects fell a seasonally adjusted 0.4% in December to $1.81 trillion, the Commerce Department reported Friday. 

Wall Street was expecting construction spending to be flat.

Spending in November rose a revised 0.5% to $1.82 trillion, up from the prior estimate of a 0.2% rise.

Over the past year, construction spending is up 7.7%. 

The total value of construction in 2022 was $1.79 trillion. That’s up 10.2% from the previous year.

Total private construction rose 0.4% in December. Private residential construction fell 0.3%, with single-family construction dropping by 2.3%. Private nonresidential spending fell by 0.5%.

Total public construction fell by 0.4%. Residential public construction fell by 0.5%, while nonresidential public construction also fell by 0.4% last month.

U.S. stocks
DJIA,
-0.99%

SPX,
-0.52%

were down in early trading on Friday. The 10-year Treasury note
TMUBMUSD10Y,
3.496%

was below 3.5%.


Source link

Jake

Jacob Keiter is a husband, a writer, a journalist, a musician, and a business owner. His journey to becoming a writer was one that was paved with challenges, but ultimately led him to find his true calling. Jacob's early years were marked by a strong desire for creative expression. He was always drawn to music, and in his youth, he played in several bands, chasing the elusive promise of fame and success. However, despite his best efforts, Jacob struggled to find the recognition he craved. It wasn't until he hit a low point in his life that Jacob discovered his love for writing. He turned to writing as a form of therapy during a particularly difficult time, and found that it not only helped him to cope with his struggles, but also allowed him to express himself in a way that he had never been able to before. Jacob's writing skills quickly caught the attention of others, and he soon found himself working as a journalist for The Sun out of Hummelstown. From there, he went on to contribute to a variety of publications, including the American Bee Journal and Referee Magazine. Jacob's writing style is reflective of traditional journalism, but he also infuses his work with a unique voice that sets him apart from others in his field. Despite his success as a writer, Jacob also owns another business, JJ Auto & Home, which specializes in cleaning. Jacob's commitment to excellence is evident in all of his endeavors, whether it be in his writing or in his business ventures. Today, Jacob is the author of two books and continues to inspire others through his writing. His journey to becoming a writer serves as a reminder that sometimes our darkest moments can lead us to our greatest achievements.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *