According to a report released on Friday by the U.S. Census Bureau, construction spending was estimated at a seasonally adjusted annual rate of $885.0 billion for December 2012, 0.9 percent above the revised November figure and 7.8 percent above the December 2011 estimate. The total value of construction in 2012 was $850.2 billion – 9.2 percent above the amount spent in 2011. This increase was driven by spending on private construction. The seasonally adjusted annual rate of private construction spending rose 2.0 percent in December, and the total value of private construction was up 16.1 percent in 2012 compared to 2011. In contrast, the estimated seasonally adjusted annual rate of public construction spending fell 1.4 percent in December, and the total value of public construction in 2012 was 2.7 percent below the 2011 figure.

Link: News Release