US construction spending inched up in December, pushing 2015 activity to highest level since in 8 years

downloadphoto, construction cranes for high rise buildings are shown in downtown Miami. On Monday, Feb. 1, 2016, the Commerce Department reports on U.S. construction spending in December.

WASHINGTON (AP) — U.S. construction spending rebounded slightly in December, helping push total spending for 2015 to the highest level in eight years.

Construction spending increased 0.1 percent in December after falling in October and November, the Commerce Department said Monday.

The December increase was driven by gains in home construction and spending on government projects. That offset declines in spending on private construction of shopping centers, office buildings and hotels.

For all of 2015, construction jumped 10.5 percent to $1.1 trillion, the highest total since 2007.

A home construction boom peaked in 2006 before falling for the next five years. Construction spending has been climbing since 2012. Economists believe building activity, fueled by home construction, will bolster the overall economy this year.

Home construction was a bright spot in the fourth quarter, growing at an annual rate of 8.1 percent in the October-December period. That was one of the best showings for any major category.

The overall economy, as measured by the gross domestic product, grew at a meager annual rate of 0.7 percent in the fourth quarter. Economists are looking for stronger growth of around 2.5 percent in the current January-March period.

For December, home construction advanced 0.9 percent, while non-residential construction fell 2.1 percent. Spending on state and local government projects was up 2.3 percent, but spending on federal building projects fell 3.3 percent.

For all of 2015, home construction rose 12.6 percent, while private non-residential activity was up 12 percent. This sector was strong for most of the year, but it has declined in three of the past four months. Spending on state and local building projects rose 6.1 percent in 2015, while spending on federal projects was up a smaller 0.7 percent.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Recent News

 
Vermeer WC2500TX Wood Chipper
The WC2500TX tracked wood chipper has a 600-horsepower Tier 4-F engine that enables it to handle whole trees. It comes with either a microchip drum, which produces chip sizes between 1/8 and 5/8 inch, or a macrochip drum, which produces chips between 5/8 and 1 1/4 inches. High-wear areas—such as the drum, discharge chute, cutter
“TENEMOS TODO MENOS GASOLINA”
www.tractopart.com TENEMOS PIEZAS ORIGINALES, PARTES DE REEMPLAZO, RECONSTRUIDO Y USADOS CON GARANTÍA.
Antofagasta:  punto de encuentro de la industria minera en Exponor 2017
Una vez más, como ha sido cada año por medio desde 1995, los distintos estamentos que componen la industria minera se reúnen en una de las citas más importantes del sector, la Exhibición de Tecnologías e Innovaciones Globales para la Minería, Exponor. Con sede en Antofagasta, durante una semana se convierte en el polo de
Más de 2 mil operadores de equipos pesados participan en tercer concurso organizado por Ferreycorp
ACTUALIDAD EMPRESARIAL. Más de 2 mil operadores de equipos pesados participan en tercer concurso organizado por Ferreycorp.
Link-Belt 750 X4 Excavator
    The 750 X4 excavator has an operating weight of 158,300 pounds, and is powered by a 512-horsepower Isuzu engine. Cycles times have been boosted by 7 percent, and arm digging force by 15 percent, compared to the predecessor. Digging depth is 32 feet 4 inches with 64,970 lb.-ft. of arm force. Bucket digging
La fuerte baja en El Precio del cobre en Chile y menores leyes mineras golpearon al sector.
La compleja situación por la que atravesó la minería en 2016 se dejó sentir en la recaudación fiscal. Es que la caída en el valor del cobre y la disminución de las leyes mineras impactaron fuerte en el royalty, cuya recaudación alcanzó su menor nivel en la historia del impuesto específico que se creó en

About Us

 
In Tractopart we supply quality construction Parts and Heavy Equipment Parts with excellent discount rate for New , Used Rebuilt & Surplus parts for excavators, Wheel loader dozers, and undercarriage for all heavy equipment brands, we are locate in Miami, Fl

Contact Info

 

At Tractopart we focus on providing high quality parts at a great price. Our parts are subjected to rigorous inspection procedures that allow us to ensure product quality.


Phone: 786.219.1010
Email: sales@tractopart.com
Main Office: 3505 South Ocean Drive #204
Hollywood, FL 33019