US construction spending for December 0.7% vs. 0.4% expected Prior month + 0.6% (rev down from 0.8%)
Private outlays hit record high. Up 0.8%. to $962.2B
Outlays on private residential projects gained 0.5% to the highest level since March 2007.
Spending on nonresidential structures jumped 1.1% after climbing 0.3% in November
Public spending +0.3%. November increase was 0.1%
Spending on federal government construction projects jumped 10.9%, the largest increase since October 2014
State and local government construction outlays fell -0.6%
Total spending 1.253 trillion
Year on year construction spending advanced 2.6%
For the year of 2017 total, construction spending rose 3.8%. This was the smallest since 2011. It rose 6.5% 2016