The following is the unedited transcript of the news release from the Department of Commerce.


DECEMBER 2005 CONSTRUCTION AT $1,160.6 BILLION ANNUAL RATE

The U.S. Census Bureau of the Department of Commerce announced today that construction spending during December 2005 was estimated at a seasonally adjusted annual rate of $1,160.6 billion, 1.0 percent (±1.3%)* above the revised November estimate of $1,149.3 billion. The December figure is 8.1 percent (±2.1%) above the December 2004 estimate of $1,073.5 billion.
The value of construction spending in 2005 was $1,119.7 billion, 8.9 percent (±1.6%) above the $1,027.7 billion spent in 2004.

PRIVATE CONSTRUCTION

Spending on private construction was at a seasonally adjusted annual rate of $904.3 billion, 1.1 percent (±1.8%)* above the revised November estimate of $894.8 billion. Residential construction was at a seasonally adjusted annual rate of $648.9 billion in December, 1.0 percent (±1.3%)* above the revised November estimate of $642.6 billion. Nonresidential construction was at a seasonally adjusted annual rate of $255.4 billion in December, 1.3 percent (±1.8%)* above the revised November estimate of $252.2 billion. The value of private construction in 2005 was $872.7 billion, 9.3 percent (±2.2%) above the $798.5 billion in 2004. Residential construction in 2005 was $626.1 billion, 11.1 percent (±2.1%) above the 2004 figure of $563.4 billion and nonresidential construction was $246.6 billion, 4.9 percent (±2.2%) above the $235.1 billion in 2004.

PUBLIC CONSTRUCTION

In December, the estimated seasonally adjusted annual rate of public construction spending was $256.3 billion, 0.7 percent (±1.8%)* above the revised November estimate of $254.5 billion. Educational construction was at a seasonally adjusted annual rate of $68.0 billion, 1.5 percent (±2.4%)* above the revised November estimate of $67.0 billion. Highway construction was at a seasonally adjusted annual rate of $68.9 billion, 0.6 percent (±4.2%)* below the revised November estimate of $69.3 billion. The value of public construction in 2005 was $247.0 billion, 7.7 percent (±2.1%) above $229.3 billion in 2004. Educational construction in 2005 was $64.3 billion, 7.9 percent (±3.8%) above the $59.5 billion in 2004 and highway construction was $66.8
billion, 11.1 percent (±5.3%) above the $60.1 billion in 2004.


Available at: http://www.census.gov/constructionspending