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    Analysis

    February 2, 2022

    CPIP Data: Construction Spending Up Slightly in December

    Written by David Schollaert

    U.S. construction spending edged up in December, though monthly outlays were down in nearly a dozen nonresidential subcategories. Construction spending rose 0.2% above the upward revised November figure and 9.0% above the same year-ago period, the Commerce Department reported.

    The Census Bureau’s report on construction shows spending on private construction projects rose 0.7% in December. Outlays on residential construction were up 1.1%, driven by a 2.1% increase in single-family homebuilding spending, while outlays on multi-family housing projects edged up 0.4%.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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