WASHINGTON — Construction spending rose 0.9% to a seasonally adjusted estimated annual rate of $884.9 billion in December, the Commerce Department reported Friday.

The December rate increased from a revised November level of $876.9 billion, originally reported as $866 billion. The December mark was 7.8% above the $820.6 billion estimate for the same month one year ago, and was the highest rate since an $889.6 billion in August 2009.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.