U.S. construction spending continued its rebound in December and total spending in 2015 reached its highest level since 2007.
Construction spending increased 0.1% in December, after a downward trend in October and November, according to a release by the Commerce Department, the Associated Press reported.
For the year, construction spending topped $1.1 trillion, a 10.5% increase from 2014.
For the fourth quarter period, home construction rose at an annual rate of 8.1%.
December saw home construction grew 0.9%, while a 2.1% drop was reported for non-residential construction. For the whole year, home construction increased 12.6%, with private non-residential activity rising 12%.
