The Defense Department awarded $24.9 billion worth of contracts in December, up 8 percent from the previous month, according to Bloomberg. However, that still represents a significant drop compared to the $36.3 billion it awarded the previous December.
In December, DoD announced 295 contracts, compared with 198 awards in November valued at $23 billion, Bloomberg reported.
The Defense Threat Reduction Agency awarded the largest contract in December, worth up to $4 billion. The agency awarded the contract to seven companies, including Northrop Grumman, Leidos Holdings and Raytheon for research and development to counter weapons of mass destruction.
The surge in spending between November and December is not necessarily an indication DoD contract spending is on the rise. It appears DoD is recovering from the 16-day government shutdown that forced the department to delay request for proposals and contract awards.
Market Data 
Markets 
AI
