US construction spending increases in line with expectations in December
U.S. construction spending rose in December, driven by a rebound in single-family homebuilding and sustained strength in home renovations. The gain suggests ongoing momentum in the housing market, supported by demand for remodeling and improvement projects.
Single-family residential construction strengthened, contributing notably to the overall increase, while nonresidential spending also showed steadier activity. The combination points to underlying resilience in construction despite broader economic uncertainties.
Overall, construction spending ended the year on a positive note, aligning with expectations and signaling continued investment in housing and renovation projects moving into the new year.