The U.S. Census Bureau of the Department of Commerce announced construction spending during December 2014 was estimated at a seasonally adjusted annual rate of $982.1 billion, 0.4% above the revised November estimate of $978.6 billion. The December figure is 2.2% above the December 2013 estimate of $961.2 billion.

The value of construction in 2014 was $961.4 billion, 5.6% above the $910.8 billion spent in 2013.

In December, the estimated seasonally adjusted annual rate of public construction spending was $283.5 billion, 1.1% above the revised November estimate of $280.4 billion. Educational construction was at a seasonally adjusted annual rate of $61.5 billion, 0.6% below the revised November estimate of $61.8 billion. Highway construction was at a seasonally adjusted annual rate of $90.3 billion, 2.1% above the revised November estimate of $88.4 billion.

To view the full Commerce Department report, click here.