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Census: 2012 was three-year high for construction spending

by thiryj

Construction spending in 2012 hit a three-year high, according to preliminary figures from the U.S. Census Bureau.

Total construction was valued at $850.2 billion, up from $778.2 billion in 2011.

Of that total, $283.4 billion was linked to residential, the highest since 2008, according to the Census.

Multifamily construction was valued at $21.3 billion, an increase from $14.8 billion in 2011.

By comparison, single-family housing construction came in at $129.2 billion, which was up from $108.2 billion in 2011.

The preliminary figures valued nonresidential construction at $566.8 billion last year, the highest since 2009.

Courtesy of the Central Penn Business Journal. For a breakdown of annual construction values since 2002 or to read the full article click:

Census: 2012 was three-year high for construction spending | Central Penn Business Journal.

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