The value of construction spending in 2006 was $1.198 trillion, 4.8 percent above the $1.144 trillion spent in 2005.

Spending on private construction was at a seasonally adjusted annual rate of $897 billion, 0.8 percent below the revised November estimate of $904 billion. Residential construction was at a seasonally adjusted annual rate of $582.3 billion in December, 1.6 percent below the revised November estimate of 592.1 billion. Nonresidential construction was at a seasonally adjusted annual rate of $314.5 billion in December, 0.9 percent above the revised November estimate of $311.8 billion.

The value of private construction in 2006 was $928.7 billion, 3.3 percent above the $899 billion spent in 2005. Residential construction in 2006 was $630.3 billion, 1.9 percent below the 2005 figure of $642.3 billion and nonresidential construction was $298.4 billion, 16.2 percent above the $256.7 billion in 2005.

In December, the estimated seasonally adjusted annual rate of public construction spending was $280.9 billion, 0.6 percent above the revised November estimate of $279.1 billion. Educational construction was at a seasonally adjusted annual rate of $75.6 billion, 1.8 percent above the revised November estimate of $74.3 billion. Highway construction was at a seasonally adjusted annual rate of $74.2 billion, 1.1 percent below the revised November estimate of $75.1 billion.