WASHINGTON — Construction spending was up 1.5% to a seasonally adjusted estimated annual rate of $816.4 billion in December, the highest level since April 2010, when it was $819.7 billion, the Commerce Department reported Wednesday.
The December rate was up from the revised November estimate of $804.0 billion and 4.3% above the December 2010 estimate of $782.9 billion.
Economists polled by Thomson Reuters had predicted a median 0.7% increase in the rate from November to December.